The role of the independent coordinating director is consolidating in Spanish companies, according to an analysis by the Esade Corporate Governance Centre. This role is fundamental to ensuring legitimacy and trust in governance.
The figure of the independent coordinating director (CIC) has gained relevance in the boards of directors of companies in Spain. According to an analysis by the Esade Corporate Governance Centre and Georgeson, its importance lies not only in its formal attributions but also in the profile and skills of the individual occupying this position.
The CIC must be an agent of trust and legitimacy, capable of generating consensus and acting as a channel for dialogue among the different directors. This role is crucial, especially in situations of conflict or in managing complex transitions, such as the succession of a chairperson or CEO.
The report highlights that, in addition to its function as a coordinator, the CIC adds significant value in times of crisis and in improving board dynamics. Coordinating directors have also expressed the need for their role to be more clearly defined within the current regulatory framework, suggesting a more active participation in the evaluation of the chairperson of the board.
This analysis reveals that in Spanish companies, especially those in the Ibex 35, there is broad consensus on the need to extend the functions of the CIC beyond what the law establishes, to improve governance in contexts where power is concentrated.
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