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Manifesto of the Graña y Montero Group’s Board of Directors

To all our stakeholders,

Many fellow citizens are bewildered to learn that a company like Graña y Montero could have been closely associated with a foreign company accused of corruption. Mainly because Graña y Montero is the most important Engineering and Construction Company in Peru and has supported Peru’s development for nearly one hundred years, building its greatest public works and emblematic buildings.

Although we do not have all the answers to this occurrence yet, the Board of Directors feels obliged to inform you that the Graña y Montero Group deeply regrets that you may feel the Company has disappointed you. The same feeling is shared by more than 28,000 employees, who have made the company into the foremost Peruvian construction group, and who everyday finish their work proud to contribute to the welfare and success of millions of families in the country.

The new Board of Directors, mostly made up of independent professionals, would like to communicate that in Graña y Montero we are strongly committed to transparency and integrity. With that in mind, we have taken a first decision: to present the “Committed to the Future” Program, which will now be the main directive guiding all of our actions.

As we promptly announced to the market and as a consequence of the current situation, we have begun an internal investigation, carried out by a first-rate independent international company; this notwithstanding, we will continue to cooperate with the relevant authorities in the ongoing investigations.

“Committed to the Future” has already started and implies the following:

  • We will create an external Advisory Council led by renowned experts in the best practices of Good Corporative Governance.
  • A new Risk, Compliance and Sustainability Committee has been created aimed to identify and neutralize the possible risks the Group may face, ensuring the faithful compliance of the most demanding Good Governance practices worldwide. This Committee is in charge of supervising the internal investigation, and shall report directly to the Board of Directors.
  • We will strengthen the Anticorruption Programs training given to all employees, especially to the Directors and Managers, with monitoring by the most recognized international institutions.
  • We are thoroughly reviewing our policies regarding all kinds of partnerships with other companies.
  • We are strengthening our controls in the public procurement processes with the State.
  • We are launching a new relationship policy with suppliers, clients and citizens to improve the thoroughness of our processes.

Since we feel obliged to keep you informed regarding these actions we are taking, we will constantly share our progress with you.

In Graña y Montero we are aware that any effort we made would be too little to recover our good name and credibility. However, you can count on us that our Group will be totally committed to recover the confidence of everybody and will remain the great company recognized over the years for its prestige in Peru and in the region.