"Governance and Transparency: Insights on the Grifols Case and the Significance of 'G' in ESG”

In today's business world, where the acronym ESG (Environmental, Social, and Governance) resonates powerfully, the 'G' for Governance has become a critical element that can define the success or failure of a company. The recent scandal involving Grifols has once again brought this topic to the forefront, highlighting how governance decisions and corporate transparency are not just ethical issues but key factors in a company's valuation and performance.

The Grifols case reminds us of the importance of transparent and ethical management in corporate leadership. The presence of family members in both the board of directors and executive positions, along with a lack of transparency in accounting practices, has led to a crisis of confidence and a significant drop in the company's stock market valuation. This situation underscores how a weakness in governance can have devastating effects on a company's reputation and financial stability.

The focus on governance goes beyond meeting regulations and quotas; it is about a deep understanding and commitment to ethics and transparency in decision-making. The presence of women on the board, the independence of board members, and the rotation of auditors are clear examples of good practices that contribute to strong governance. However, governance is a complex field where appearances can be deceiving, and where analysis methodologies often fall short by not delving into the essence of the problems.

In this context, the training in?corporate governance for board members in which I am the director, "Wo-Men Joining Boards" takes on crucial importance. This program not only analyzes cases like Grifols but also provides participants with the necessary tools to understand and address the challenges of governance in today's corporate world. With a focus on family business, with the collaboration of Garriges Abogados, ESG, in collaboration with EY, and the core of corporate governance, including aspects such as diversity, ethics, and transparency, this program prepares professionals to effectively contribute to the corporate governance of any company, ensuring that the 'G' in ESG is a robust and reliable pillar in the corporate structure.