Cuatrecasas Foundation to award best corporate governance practices in Spain

2018年6月1日

In the photo: first meeting of panel members with the award's Executive Committee.
In the photo: first meeting of panel members with the award's Executive Committee.

From left to right and from front to back: Francisco Ballester, honorary partner at Cuatrecasas; Matías Rodríguez-Inciarte, chair of Santander Universidades; Eva Castillo, former chair of Telefónica Europa and former chair of Merrill Lynch Spain and Portugal; Jaime Caruana, former governor of Banco de España; Cristina Garmendia, chair of the Cotec Foundation; Juan Arena, former chair of Bankinter; Luis Isasi, chair and CEO of Morgan Stanley; and Javier Juste, counsel at Cuatrecasas. Juan Aguayo, partner at Cuatrecasas the award's director; Manuel Pizarro, permanent member of the Royal Academy of Case Law and Legislation and chair of the panel; Macarena Olivencia, partner at Cuatrecasas, daughter of the late Manuel Olivencia and honorary chair of the panel; Consuelo Madrigal, former state attorney general; Rafael Fontana, senior partner of Cuatrecasas and vice chair of the Cuatrecasas Foundation; and Rafael Hidalgo, counsel at Cuatrecasas and non-member secretary of the panel.

 

Cuatrecasas Foundation to award best corporate governance practices in Spain

 

  • Manuel Olivencia Award for Good Corporate Governance will acknowledge listed companies’ best practices every year
  • Manuel Pizarro, permanent member of Royal Academy of Case Law and Legislation, chairs 14-member panel that will choose winning company in autumn
  • Award is aimed at preserving legacy of Manuel Olivencia, author of first Code of Good Governance in Spain

 

The Cuatrecasas Foundation has announced the creation of the Manuel Olivencia Award for Good Corporate Governance, an award that rewards business actions and conduct that promote and improve corporate governance in Spain. The foundation presented the award today at a breakfast session at the Cuatrecasas Madrid headquarters.

The award takes its name from the late Manuel Olivencia, a renowned lawyer, professor of commercial law at the University of Seville, vice chair of Cuatrecasas and chair of the committee that drafted the first Spanish Code of Corporate Governance in 1998, who died on January 1, 2018.

By creating this award, Cuatrecasas aims (i) to preserve and expand the legacy of Manuel Olivencia who was a key figure in the development of commercial law and its application to businesses in Spain, and (ii) play a part in encouraging the developments and efforts of Spanish businesses in good corporate governance.

Regarding the creation of this award, Rafael Fontana, senior partner at Cuatrecasas and vice chair of the Cuatrecasas Foundation, said that “Manuel Olivencia showed us his wisdom and knowhow for many years, a praxis that marked commercial law in Spain and whose principles have been fundamental for laying the foundations of good corporate governance in Spain and nearby countries. It is time to honor and preserve his legacy by creating this award.”

Mr. Fontana added that “two decades after approval of the Olivencia Code, the progress made by Spanish businesses in corporate governance are relevant. With this award, we want to identify and make known the best business practices that reflect the importance of corporate governance and the transparent management of companies as the main factor for generating value in a sustainable way.”

Juan Aguayo, partner at Cuatrecasas and director of the award, stated that “the Manuel Olivencia Award acknowledges the legacy Manuel Olivencia left in business law and in all of us that knew him.” He added that “this award will not only acknowledge Spanish listed companies’ exemplary conduct; we are convinced that it will promote good corporate governance.”

The first edition of the Manuel Olivencia Award for Good Corporate Governance is under way. An independent panel will choose the listed company that made the most effort to optimize its governance last year. The candidate selection period starts on June 1, 2018 and ends on July 9, 2018. The winner of the Manuel Olivencia Award for Good Corporate Governance will be announced at a public event held in autumn 2018.

 

Manuel Pizarro, chair of the Manuel Olivencia award panel

Macarena Olivencia, partner at Cuatrecasas and daughter of the late Manuel Olivencia, is honorary chair of the panel.

The panel is made up of 14 members, all well-known and highly recognized individuals in Spain’s business and legal spheres, and is chaired by Manuel Pizarro, a permanent member of the Royal Academy of Case Law and Legislation.

The members of the panel are as follows: Francisco Ballester, partner at Cuatrecasas; Jaime Caruana, former governor of Banco de España; Adela Cortina, professor emeritus of ethics and political philosophy at the University of Valencia; Eva Castillo, former chair of Telefónica Europa and former chair of Merrill Lynch Spain and Portugal; Cristina Garmendia, chair of the Cotec Foundation; Juan Arena, former chair of Bankinter; Luis Isasi, chair and CEO of Morgan Stanley; Consuelo Madrigal, former state attorney general; Ignacio Gil-Casares, former chair and founder of Spencer Stuart in Spain; Francisco Pérez-Crespo, partner at Cuatrecasas; Matías Rodríguez-Inciarte, chair of Santander Universidades; Alfonso Sánchez-Tabernero, dean of the University of Navarra; and Antonio Zoido Martínez, chair of the Spanish stock exchanges and markets and of the Madrid stock exchange. Rafael Hidalgo, counsel at Cuatrecasas, will act as non-member secretary of the panel.

 

Manuel Olivencia, an indelible legal legacy

Manuel Olivencia (Ronda, Málaga, 1929-Seville 2018) was an accomplished lawyer who combined the vocation of teaching from his chair of commercial law at the University of Seville with the desire to share knowledge from his professional work in the law firm Cuatrecasas of which he was a partner.

In addition to lawyer and professor, Mr. Olivencia held many positions during his outstanding career, including undersecretary of education, director at the Banco de España, commissioner of the Expo 92 in Seville and chair of the commission that drafted the Olivencia Code. He also received many national and international medals and awards, including several Grand Spanish Crosses, such as the Civil Order of Alfonso X the Wise and Royal Order of Isabella the Catholic, and he was named Favorite Son of Ronda and Adopted Son of Seville.

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