Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K filing by Credicorp Ltd., a foreign private issuer, covers the month of January 2012. The report was filed on January 26, 2012, to notify the U.S. Securities and Exchange Commission and the Peruvian National Supervisory Commission for Companies and Securities (CONASEV) of a material event regarding corporate governance.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a notification of a corporate governance change and does not contain financial performance data.
Material Changes
The primary material event reported is the creation of a new Remuneration and Compensation Committee by the Board of Directors during a session held on January 25, 2012. There are no reported changes to financial operations or results in this filing.
Management Commentary and Governance
The newly formed Remuneration and Compensation Committee has been assigned the following responsibilities:
- Defining remuneration, compensation, and benefit policies for all Credicorp subsidiaries.
- Delineating compensation policies for main executives of Credicorp and its subsidiaries.
- Outlining the compensation policy for the Board of Directors of all subsidiaries.
The Committee composition includes:
- Mr. Dionisio Romero P. (Chairman of the Board of Directors)
- Mr. Raimundo Morales (Vice-Chairman of the Board of Directors)
- Mr. Reynaldo Llosa Barber (Member of the Board of Directors)
- Mr. Walter Bayly (Chief Operating Officer)
The filing states that all subsidiaries must align with the policies established by this Committee.
Key Facts for Investor Verification
- Verify the specific compensation policies adopted by the new committee in subsequent filings.
- Confirm the alignment of subsidiary compensation structures with the new central policies.
- Note that this filing contains no financial data; refer to Form 20-F for financial performance.