How is the board of directors appointed and composed in State-Owned Enterprises?
The appointment of the boards of directors in State-Owned Enterprises is different between those that are under the interference of the SEP and those that are not.
In the Comité Sistema de Empresas - SEP companies, the directors of SOEs created by law are appointed directly by Agreement of the Board of Directors of the SEP, implemented through a resolution of its executive management, adjusting to the requirements of the organic norms of SOEs created by law and to the requirements established in the law of corporations, in the case of state-owned companies. In the case of the latter, the SEP Council agrees to propose to the respective Shareholders' Meeting the appointment of the Board of Directors. Regarding the composition of the Board of Directors, the number of directors is established in their organic norms or bylaws, varying between 3 and 7 members.
In the case of the other SOEs, their organic laws establish the form of appointment and composition of their boards of directors.
Thus, the board of directors of Televisión Nacional de Chile is composed of seven members, one of whom is freely elected and removed by the President of the Republic, while the others are approved by the Senate of the Republic at the proposal of the President.
In the case of Banco Estado, the Board of Directors is composed of seven members, six of whom are appointed by the President of the Republic and one is a representative of the workers, chosen by the workers themselves.
The Board of Directors of Codelco is composed of three directors appointed by the President of the Republic, two workers' representatives chosen by the President from a list proposed by the Federación de Trabajadores del Cobre and the Asociación Nacional de Supervisores del Cobre and the Federación de Supervisores del Cobre, and four directors appointed by the President from a short list prepared by the Consejo de Alta Dirección Pública.
ENAMI's board of directors is composed of ten members, including the Minister of Mining, a representative of the Minister of Finance, three directors freely chosen by the President of the Republic, one director appointed by Corfo, two appointed by the Sociedad Nacional de Minería, one appointed by the Instituto de Ingenieros de Minas and one by the Comisión Chilena del Cobre.
ENAP's board of directors is composed of two directors appointed by the President of the Republic, four directors appointed by the President of the Republic, from a shortlist proposed for each position by the Consejo de Alta Dirección Pública and one director appointed by the President of the Republic on the basis of a proposal made by the company's workers.
The company Fondo de Infraestructura S.A. (Desarrollo País) has a board of five members, two of which are appointed by the President of the Republic, chosen from a list of five candidates proposed by the minister of Public Works, and three appointed by the President of the Republic from a list of three candidates proposed for each position by the Consejo de Alta Dirección Pública.
Finally, the companies FAMAE, ENAER and ASMAR have boards of directors made up of members of the Armed Forces.