The Hellenic Corporate Governance Council (HCGC) was established in 2012 as a non-profit company with the joint initiative of Athens Stock Exchange (ATHEXGROUP) and the Hellenic Federation of Enterprises (SEV). Since October 2018, the Hellenic Banking Association (HBA) has become a regular member of the HCGC. Since June 2019, the Hellenic Fund and Asset Management Association (HFAMA) is a regular member of the HCGC, and since June 2021 the Hellenic Corporation of Asset and Participation (HCAP) is also a regular member of the HCGC.
What is the purpose of the HCGC?
The purpose of the HCGC is to continuously increase the credibility of the Greek market among domestic and international investors and to improve the competitiveness of Greek corporations. It functions as a specialized body for disseminating the principles of corporate governance and seeks to develop a culture of good governance in the Greek economy and society.
The HCGC is the body responsible for drafting and updating the Hellenic Corporate Governance Code. Its overall action plan includes: formulating positions on the institutional framework, making proposals, taking part in consultations and working groups, organizing educational and information actions, monitoring and evaluating corporate governance practices and implementing corporate governance codes, providing support and rating tools for the performance of Greek corporations.
What are the members of the HCGC?
The HCGC as a Non-Profit Company has Members, which are distinguished as founders (ATHEXGROUP and SEV), Regular (HBA, HFAMA and HCAP), Participant and Others. The General Assembly (GA) is the supreme body of the HCGC. The HCGC is run by a Board of Directors composed today of 7 members elected by the GA and having a five-year mandate. In addition to the Board of Directors, the Corporate Governance Council was established, in which participate experts from different sectors (audit, investment, business, regulators, legal, advisory, banking and financial).
Since October 2018, a Working Committee has been set up with the participation of representatives of the Founding Members and the Regular Members (ATHEX, SEV, HBA, HFAMA and HCAP) with responsibilities to implement the action plan, to organize individual actions (conferences, events, promotions), to find sponsors and other resources, and to fulfill and implement other specific objectives.