Galp CEO investigated after internal complaint of secret relationship with director

Galp’s Ethics and Conduct Committee investigates an anonymous complaint about the relationship, kept confidential, with a senior director, which could constitute a conflict of interest. The case could lead to the CEO’s dismissal.

O CEO da Galp, Filipe Silvais being investigated by the company’s Ethics and Conduct Committee, following an anonymous complaint about his relationship with a senior director at the oil company, reveals the newspaper.

According to the newspaper, a possible conflict of interests is at stake, since the director in question depends hierarchically do CEO.

Inquired in writing by ECO, Filipe Silva, former Financial Director of Galp, who a year ago replaced Andy Brown as CEO, confirms that he was aware of the complaint, but not of its content. “As soon as I become aware of it, just the I will discuss with the Ethics Committee“, it says.

The explains that “a conflict of interest arises when our personal interests, whether financial, professional, family, political or other, or the interests of someone with whom we have close relationshipinfluence or may be perceived as objective exercise influencers of our professional duties and responsibilities.”

Also questioned in writing by ECO, the president of the Board of Directors of Galp, Paula Amorimrefused to confirm whether the CEO had “communicated some close and personal relationship with a director, or whether this relationship had called into question the integrity of the executive committee’s decisions.”

“The Chairman of the Board of Directors reiterates Galp’s commitment to complying with the Code of Ethics and Conduct, acting accordingly, whenever applicable and in accordance with legal and statutory provisions”, replied Paula Amorim.

Amorim Energia is owned by Galp, with 36.7% of the shares. THE Parpublicthe State’s shareholding management company, is the second largest shareholder, with a 8.2% share in the oil company’s capital.

Also questioned by ECO about the alleged case, Tito Arantes Fontespresident of the Ethics and Conduct Committee, neither confirmed nor denied the complaint. “There are several anonymous complaintseven more so in a multinational like Galp, and therefore I neither confirm nor deny the existence of this complaint.”

In the oil company’s Code of Conduct there is no explicit reference to situations of close and personal relationships, nor whether these should be communicated. However, according to a source contacted by ECO, the results of the investigation could even dictate dismissal by Filipe Silva.