Quiebre del gobierno corporativo de EPM

Abstract

Empresas Públicas de Medellín (EPM) is a public, municipal and decentralized company dedicated to the provision of home services such as energy, gas supply, cleaning, aqueduct and sewage, whose sole owner is the Municipality of Medellín. This owner-company relationship allows the transfer of 55% of its financial surplus between ordinary, extraordinary and additional of each fiscal period, and these transfers contribute an average of 20% of the resources that are invested in the development plans of the different mayoralties of the city.

• Law 142 of 1994 in its article 27 determines the special rules on the participation of public entities and that in any capacity participate in the capital of residential public utility companies. • The territorial authority is exercised by the Municipality and is represented by the Mayor. • The Mayor is elected by popular vote. • The Mayor is a main member of the Board of Directors, and is responsible for freely appointing five independent members, three non-independent members who are part of the list of development and social control committees and also the General Manager.

This case study collects information from 2007 to April 2022 related to EPM and Medellín´s Mayor's Office, describing their management from corporate governance and how the transfers for social investment operated in the development plans of each of the mayors who governed the city.