Board of Directors
The Board of Directors is made up of seven members and one of its main activities is decision-making for the fulfillment of corporate strategic objectives.
Members of the Board of Directors
The presidency of the Board of Directors is held by Rosario Córdoba Garcés, an independent member. Out of the seven members of the Board of Directors, four of them meet all the conditions established in our Code of Good Governance to be considered independent members.
The main activities of the Grupo Argos Board of Directors consist of carrying out decision-making processes for the fulfillment of the corporate strategic goals and to follow-up on the implemented actions, seeking to always find the best interests for the company and its shareholders.
Committes
This Committee is made up of three independent members of the Board of Directors. The members of the Committee must have at least one with experience in matters of corporate finance and / or matters related to the design and implementation of internal control systems. The Secretary General of the Company or the person designated by the latter shall act as secretary of this Committee. Likewise, the Company CEO, the vice president of corporate strategy and finance, the Internal Auditor and the Fiscal Auditor will attend the meetings, with voice but no voting rights.
The main purpose of the Committee is to evaluate the accounting procedures, the management of the relationship with the Statutory Auditor and to supervise the effectiveness of the control architecture and the risk management system. The functions of the committee can be consulted in numeral 19.1.2 of the Chapter III of the Code of Good Governance and in article 60 of the Bylaws.
This Committee is composed of Ana Cristina Arango, Rosario Córdoba, and Jaime Alberto Palacio.
The Committee is composed of three independent members of the Board of Directors. The members of this Committee must be knowledgeable in matters of strategy, best practices and trends in human resources, and issues related to compensation policies and related matters. The Secretary of this Committee is the Vice President in charge of the talent and administrative areas of the Company, or the person designated by him/her.
The main goal of this Committee is to support the Board of Directors in the exercise of its functions related to the strategy and integral management of the organization’s talent, succession processes, and appointments, and in the exercise of the tasks associated with the compensation guidelines for Grupo Empresarial Argos employees, including the compensation of the Board of Directors and Senior Management.
The committee’s functions can be consulted in numeral 19.2.2 of Chapter III of the Code of Good Governance.
This Committee is composed of Jorge Alberto Uribe, Rosario Córdoba, and Ana Cristina Arango.
This Committee is made up of three members of the Board of Directors, at least one must be an independent member. Likewise, the Company CEO attends the meetings with voice but no voting rights, and the Secretary General of the Company or the person designated by the latter shall act as secretary of this Committee.
The main goal of this Committee is to assist the Board of Directors in its role of proposing and supervising the measures of Sustainability and Corporate Governance of the Company. The functions of the Committee can be consulted in numeral 19.3.2 of the Chapter III of the Code of Good Governance.
This Committee is composed of Rosario Córdoba, Claudia Betancourt y Ricardo Jaramillo.
More information
The remuneration of its members is approved by the Shareholders’ General Assembly, according to the structure, obligations and responsibilities of this board, as well as the personal and professional skills of its members, the time invested and their experience.
The members of the Board of Directors are remunerated through a fee per session attended by the Board of Directors and a fee per session attended by the Board of Directors’ Committees.
Remuneration for attended session of the Board of Directors and the Board of Directors’ Committee:
April 2024 – March 2025
$11.000.000
| Topics | Rosario Córdoba | Ana Cristina Arango | Claudia Betancourt | Juana Francisca Llano | Jaime Palacio | Jorge Uribe | Ricardo Jaramillo | Total |
| a) Risk | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 7 |
| b) Internal control | 1 | 1 | 1 | 1 | 4 | |||
| c) Corporative finance | 1 | 1 | 1 | 1 | 1 | 1 | 6 | |
| d) Commercial affairs | 1 | 1 | 1 | 1 | 4 | |||
| e) Materials industries | 1 | 1 | ||||||
| f) Crisis management | 1 | 1 | 1 | 1 | 1 | 5 | ||
| g) Legal affairs | 1 | 1 | ||||||
| h) Sustainability | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 7 |
| i) Government/Public policy | 1 | 1 | 2 | |||||
| j) International | 1 | 1 | 1 | 3 | ||||
| j) Talent | 1 | 1 | 1 | 3 |
The Board of Directors is evaluated annually, alternating between external evaluation and self-assessment. The external evaluation is conducted by an independent firm and may include peer evaluation.
- Executive summary of the External Evaluation of the Board of Directors 2023.
- Executive summary of the Board of Directors Assessment 2022.
- Executive summary of the Board of Directors Self-Assessment 2021.
- Executive summary of the Board of Directors Self-Assessment 2020.
- Executive summary of the External Evaluation of the Board of Directors 2019.
Chapter III of the Code of Good Governance contains the Operating Regulations of the Board of Directors. It regulates among others, matters relating to:
- Principles of action.
- Responsibilities.
- Selection criteria.
- Election and conformation.
- Incompatibilities.
- Terms.
- Rules of operation.
- Budget.
- Performance Appraisal.
- Board of Directors’ Committees.
The Board of Directors has three committees, which are appointed by the board, and they are made up of members of the Board of Directors.
Rosario Córdoba
She has been a member of the Board of Directors since 2011. She is an economist, based in Bogotá, an independent consultant, with extensive experience in the private sector and guilds in Colombia. Rosario Córdoba participates in boards of directors of representative private and non-profit companies in the country, which allows her to have a strategic vision of business. She currently chairs the Board of Directors of Grupo Argos, from where she leads the definition of its agenda and coordinates the dynamics and participation of all Board members.
Ana Cristina Arango
She has been a member of the Board of Directors since 2009. She is a civil engineer based in Medellín, director of Inversiones el Yarumo S.A., with extensive experience in the financial, risk, and cement sectors. Ana Cristina Arango is a member of boards of directors of private companies in Colombia, which allows her to have a knowledge of the operational and strategic dynamics of business. She is a member of the Talent and Compensation Committee and the Audit, Finance and Risk Committee. From the Audit, Finance and Risk Committee she has accompanied the evaluation of accounting and financial procedures, as well as the supervision of the effectiveness of the company’s control architecture and risk management system.
Claudia Betancourt
She has been a member of the Board of Directors since 2018. She is an economist, based in Cali, general manager of Amalfi S.A.S., with extensive experience in the financial, risk, cement and energy sectors. Claudia Betancourt participates in the boards of directors of companies listed on the Colombian Stock Exchange such as Promigas S.A. E.S.P. and Gases de Occidente S.A. E.S.P., which allows her to have an adequate knowledge of the country’s business dynamics. She was a member of the Board of Directors of Cementos Argos S.A., one of the strategic businesses of Grupo Argos. She belongs to the Sustainability and Corporate Governance Committee, from where she has accompanied the policy, strategy and commitment in environmental, social and governance (ESG) matters of Grupo Empresarial Argos.
Juana Francisca Llano
She has been a member of the Board of Directors since 2024. She is a lawyer from the Universidad Pontificia Bolivariana with specializations in Financial and Business Law and in Civil Liability and Insurance from the same university. She also has a Specialization in Reinsurance from the Universidad Pontificia de Salamanca and completed the Advanced Management Program at MIT. She is currently the President of Suramericana S.A. She has extensive experience in strategy and risk management and participates in various boards of directors of companies in the financial and real sectors, both in Colombia and abroad.
Jaime Alberto Palacio
He has been a member of the Board of Directors since 2024. He is a Business Administrator from Universidad Eafit and has training in management with an emphasis in Marketing from the Wharton School of the University of Pennsylvania. He has extensive experience in the private sector and participation in the boards of directors of publicly traded companies, which allows him to have a deep understanding of commercial matters and the strategic, financial, and ESG aspects of businesses. He is currently the General Manager of Coldeplast and Microplast. He is a member of the Audit, Finance, and Risk Committee.
Jorge Uribe
He has been a member of the Board of Directors since 2015. He is an administrative engineer, based in Panama City and Miami, an independent consultant, with extensive experience in the mass consumption sector, logistics and operations, international business, talent management and salary policies. Jorge Uribe participates in different boards of directors of national and foreign companies, which allows him to have a deep knowledge of the dynamics of business in Colombia and abroad. He is a member of the Talent and Compensation Committee, from where he has promoted the adoption of the best practices of attraction, selection and retention of talent, framed in the culture and values of Grupo Empresarial Argos.
Ricardo Jaramillo
He has been a member of the Board of Directors since 2024. He is a Civil Engineer from the Escuela de Ingeniería de Antioquia and holds an MBA with an emphasis in Finance from Boston University. He is currently serving as the President of Grupo de Inversiones Suramericana S.A. He has extensive experience in investment management, capital markets, financing, and mergers and acquisitions. Ricardo Jaramillo participates in various boards of directors of private companies, educational institutions, and non-profit organizations. He is a member of the Sustainability and Corporate Governance Committee.