Credicorp Ltd.: Credicorp appoints Sustainability Committee
Lima, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Lima, PERU, December 18th, 2020 – On December 17th 2020, the Board of Directors of Credicorp approved an initiative to broaden the scope of the Corporate Governance Committee and to change its name to “Sustainability Committee”. The Board also appointed Leslie Pierce as new member of the renamed Committee.
In February this year, Credicorp announced a series of initiatives to bolster corporate governance to drive long-term stakeholder value and demonstrate leadership in corporate governance. In June this year, after the Annual General Shareholders Meeting elected new Board members, the Board redefined the Committees’ composition and appointed Maite Aranzabal (independent director) to chair the Corporate Governance Committee.
In October this year, during its Investor Day, the company announced a new vision: to become a future-oriented, stakeholder-focused, sustainable business leader in Latin America, to ensure long -term value creation for all stakeholders. Walter Bayly, CEO of the company, shared the ambitions of Credicorp’s Sustainability program: (1) create a more sustainable and inclusive economy, (2) improve the financial health of citizens, and (3) empower our people to thrive.
On December 17th, the Board approved the decision to change the name of the Corporate Governance Committee to “Sustainability Committee” to reflect its goal to lead and supervise Credicorp’s novel and ambitious Sustainability program. The Board believes this program is key to ensuring business success and long-term stakeholder value. The Sustainability Committee will, alongside its current Corporate Governance roles, assume functions related to the Sustainability Program.
After Mr. Pierce was appointed to serve on the Board at the Special Shareholders meeting in October this year, the Board made the decision to elect Mr. Pierce, who has ample experience with Corporate Responsibility matters, to sit on the Sustainability Committee. Mr. Pierce has led philanthropic organizations such as Vida Peru, Banco de Alimentos del Peru and Crea+. His energy, strategic mindset and track record in building and leading large corporations make him an excellent addition to the committee.
The other members of the Sustainability Committee are: Maite Aranzabal Harreguy (Chair), Antonio Abruña Puyol, Fernando Fort Marie, Patricia Lizarraga Guthertz and Barbara Bruce Ventura.
Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru – BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.
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