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Board of Directors and Committees

In accordance to the Mexican Stock Market Law (Ley del Mercado de Valores) and the Code of Principles and Best Practices in Corporate Governance (Código de Principios y Mejores Prácticas en Gobierno Corporativo), Grupo Gigante, S.A.B. de C.V. has a Board of Director, an Audit Committee, a Corporate Practices Committee and a Finance and Planning Committee.

Consejo de Administración

Board of Directors

The Board of Director main responsibilities are the establishment of the strategy of the company, supervise the business operations, approval of management strategies, the risk assessment practices, the internal control framework and the compliance with all applicable laws.

The Board of Directors is integrated by 13 members as follows: One equity related board member, two are equity board members, one related board member and nine independent board members. In order to comply with its responsibilities the Board of Directors is supported by the following committees:

Comité de Auditoría

Audit Committee*

This Committee is responsible to supervise that the external and the internal audit are performed under a complete independence of the company management. The above in order to ensure that all financial information generated and disclosed thru the Mexican Stock Market, is issued in a responsible, clear and timely manner in order to present in a reasonable way the financial situation of the company.

This committee validates in a permanently manner the internal control framework, the risk assessment procedures and the financial information issuance procedures of the company, revises the transactions with related parties transactions in coordination with the Corporate Practices Committee, supervise the whistleblower program and the compliance practices with all applicable laws.

Comité de Prácticas Societarias

Corporte Practices Committee

This Committee is responsible to revise the executive staff assessment and compensation practices, supervise that the company is managed under honest and responsible practices, validate the establishment of a succession plan and authorize the transactions with related parties in coordination with the Audit Committee.

Comité de Finanzas y Planeación

Finances And Planning Committee

This Committee is responsible of validating the establishment of middle and long term strategic planning procedure that assure the stability and permanence of the company thru time. This committee supervise and issue recommendations related to the existence of policies and procedures for budget creation and its follow-up, treasury management, criteria of assets valuation, debt analisys and it follow-up and the revision of the real estate projects of the company.

*The Audit Committee and the Committee of Corporate Practices are integrated only by Independent Board Members of Grupo Gigante, S.A.B. de C.V. Board of Directors.