Governance fully compliant with emerging grow custom-rowth company status
The Board of Directors acts as a governing body. Its primary goal is to look after the interests of share holders by overseeing the organization's management to help ensure that management acts on behalf of shareholders.
Despegar’s governance processes are determined by BVI law and our articles of association. Despegar believes it is in full compliance with the NYSE listing standards that apply to it. In addition, throughout the years, there has been full attendance of the members of the Board both to the Board Meetings and Committee meetings.
The current Board of Directors is comprised of seven directors:
· Two directors that have neither prior nor current affiliation with the Company: Nilesh Lakhani (Chair of the Board) and Mario Vázquez.
· Two directors are designees of current major shareholders: Adam Jay (Expedia) and Dirk Donath (Catterton)
· Two directors have been part of our management in the past: Martín Rastellino (Co-founder and former COO until June 2017) and Michael Doyle (Former CFO until August 2018).
· Despegar’s CEO, Damián Scokin
The Board of Directors have designated three committees, which have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the Company.
Strategy Committee: assists with the Company’s strategic plans and direction and oversees their implementation, and assists with the identification of significant opportunities and challenges facing the Company.
Nomination and Compensation Committee: responsible for oversight of the compensation of the Company´s CEO and his direct reports, and the implementation of the Company´s compensation policy. Also oversees the director identification and nomination process.
Audit Committee: oversees our accounting and financial reporting processes and the audits of our consolidated financial statements. PriceWaterhouseCoopers has been Despegar’s auditor since the IPO.