Our commitment to ethical and transparent governance

Corporate Governance

Our governance system follows the guidelines of the Code of Good Governance for listed companies in Spain. With regards to our stakeholders, we always incorporate the best international practices in business management to protect their interests. We strive to continuously improve and we adapt to market trends to meet Cepsa’s strategic objectives.


Our Board of Directors and its Committees are responsible for overseeing the management of the Company and the development of its businesses. In response to recent regulatory changes, our company’s governance bodies have adapted their structure and composition and have demonstrated their commitment to meeting applicable laws. Moreover, the Board and its Committees also develop the company’s Corporate Policies and oversee the regulatory compliance of the business areas with regard to their plans, policies, objectives, and strategies.


We have created a Management Committee to oversee the successful implementation and monitoring of the commitments established in the General Risks Policy. The committee is formed of the CEO, CFO, and COO, as well as the head of each business and functional areas.

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Our commitment is to grow in a sustainable way, while maintaining  relationships built on trust with our stakeholders, keeping them in mind as we carry out our operations and always protecting their interests. To help us manage this we are supported by our company values and in Cepsa’s ethical principles established in our Code of Ethics and Conduct.

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Articles of Association