Governance Model
The governance model of CP is set out in its Articles of Association and is also audited by an External Auditor.
Board of Directors
The members of CP's Board of Directors were appointed by Resolution of the Council of Ministers No. 29/2025, of February 13, published in the Diário da República, 1st series, No. 35, of February 19, upon proposal by the members of the Government responsible for the areas of Finance and Infrastructure and Housing.
The mandate entrusted to them has a duration of three years.
Mandate: 2025 - 2027
Education
- Licenciatura em Engenharia Eletrotécnica no ramo de Automação e Sistemas pelo ISEP.
- PDE - Programa de Direção de Empresas pela AESE Business School.
Presidente do conselho de administração da CP - Comboios de Portugal, E. P. E.
Mandate: 2025 - 2027
Education
Licenciatura em Organização e Gestão de Empresas, Instituto Superior de Economia e Getão (ISEG).
Vice-Presidente do conselho de administração da CP - Comboios de Portugal, E. P. E.
Mandate: 2025 - 2027
Education
- Pós-Graduação “Analytics for Business” – ISCTE Executive Education – 2024;
- Pós-Graduação “Prospetiva, Estratégia e Inovação” – ISEG – 2016;
- Pós-Graduação “Métodos Analíticos Aplicados às Finanças Públicas” (componente curricular), parceria entre a Direção-Geral do Orçamento (DGO), o Instituto Superior de Economia e Gestão (ISEG) da Universidade de Lisboa, e o Instituto Superior de Estatísticas e Gestão de Informação (ISEGI) da Universidade Nova de Lisboa – 2015;
- Mestrado em Administração Pública – Justiça (componente curricular), do Instituto Superior de Ciências Socais e Políticas (ISCSP) da Universidade de Lisboa – 2010;
- Pós-Graduação Avançada em Finanças e Gestão do Sector Público, do Instituto de Direito Económico, Financeiro e Fiscal (IDEFF) - Faculdade de Direito da Universidade de Lisboa – 2007;
- Licenciatura em Gestão, pelo Instituto Superior de Economia e Gestão (ISEG) da Universidade de Lisboa - 2000.
Professional Education
- AI Business School AP - Programa Executivo de Formação em Inteligência Artificial, parceria entre a Faculdade de Ciências de Lisboa, ISEG, ISCTE, IST, NOVA IMS e Porto Business School - 2023.
- Programa Avançado de Competências para Gestores – LAB Justiça - Inovação e Cultura, parceria entre o ISEG e a NOVA SBE - 2022/2023;
- Programa de Especialização em Negociação - Católica Lisbon Business & Economics - 2021;
- CAGEP - Curso Avançado de Gestão Pública - ISCTE - 2021;
- Curso de Especialização em Avaliação de Políticas Públicas - ISCTE - 2018;
- Técnicas de Negociação em Contexto Jurídico - Instituto de Ciências Jurídico-Políticas (ICJP), da Faculdade de Direito de Lisboa - 2018;
- Programa Avançado em Novos Desafios na Gestão Financeira Pública - ISCTE – 2017;
- FORGEP - Formação em Gestão Pública - ISCTE - 2009;
- Diversas ações de formação profissional de curta duração e participação em seminários nas áreas da administração pública, gestão e finanças.
Vogal do conselho de administração da CP - Comboios de Portugal, E. P. E.
- 2012-2015 e 2020-2023: Perita do Ministério da Justiça na CReSAP - Comissão de Recrutamento e Seleção para a Administração Pública;
- 2008-2015: Vogal do Conselho Fiscal da APA - Administração do Porto de Aveiro, S.A.
Mandate: 2025 - 2027
Education
- Programa de Direção de Empresas (PDE), AESE Business School.
- Master in Business Administration (MBA), Faculdade de Economia da Universidade Nova de Lisboa.
- Licenciatura em Química Aplicada, ramo de Biotecnologia, Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa.
Vogal do conselho de administração da CP - Comboios de Portugal, E. P. E.
Mandate: 2025 - 2027
Education:
- Executive MBA, AESE Business School;
- Basics in International Management, Cranfield University;
- PAGE - Programa Avançado de Gestão para Executivos, Universidade Católica Portuguesa.
- Licenciatura em Marketing e Publicidade, IADE.
Vogal do conselho de administração da CP - Comboios de Portugal, E. P. E.
Organisational chart
Appointed by joint order of the members of the Government responsible for the areas of Finance and Infrastructure and Housing, for a three-year term, with the powers provided by law and CP’s Articles of Association.
Currently, the Fiscal Council is composed of:
- António José Farinha Simão, as President.
- Teresa Isabel Carvalho Costa and Cristina Maria Pereira Freire, both as full Board Members.
This corporate body of CP is designated, upon proposal of the Fiscal Council, by joint order of the members of the Government responsible for the areas of Finance and Infrastructure and Housing, for a three-year term.
Currently, the Statutory Auditor of CP is Alves da Cunha, A. Dias & Associados – Sociedade de Revisores Oficiais de Contas, Lda., represented by José Alves da Cunha, with the powers provided by law and CP’s Articles of Association.
"The members of CP's Board of Directors were appointed by Resolution of the Council of Ministers No. 29/2025, of February 13, published in the Diário da República, 1st series, No. 35, of February 19, upon proposal by the members of the Government responsible for the areas of Finance and Infrastructure and Housing.
The mandate entrusted to them has a duration of three years."The conclusion of the Public Service Contract marks a new reality in CP’s management model, with clearly defined service objectives and targets, in return for financial compensation from the State when justified. Moreover, the Company is subject to continuous monitoring and control by the “Contract Manager” appointed by the State.
The Public Service Obligations (PSOs) covered by the contract include services provided in Urban/Suburban, Regional, and Intercity segments, from the perspective of integrated services by geographic areas, grouped into service bundles called “Mobility Axes.”
These services subject to PSOs are marketed under a tariff schedule (ticket prices) that is contractually defined, with rules also established for updating these prices.
The Contract provides financial compensation for these services, as well as quality objectives and monetary penalties if CP fails to meet the defined quality standards.
The long-distance service “Alfa Pendular”, although assumed by the State as a Service of General Economic Interest (SGEI), is not covered by the public service obligations of the contract. However, CP is required to maintain a minimum service, specified in an Annex. CP therefore has the right to operate the Alfa Pendular services on the national rail network under market conditions, free to define the respective tariff and commercial policy.
The Contract specifies the rights and obligations of each party and the characteristics of the public service to be provided.
The Contract has a duration of ten years, extendable by an additional five years if CP provides significant assets (investments), including the acquisition of rolling stock. This extension will be evaluated based on verification of the investments actually made during the initial 10-year term of the contract.
The Contract Annexes are as follows:
- National Rail Network on which CP operates (Anex I);
- Operating Program (Anex II);
- Quality Parameters (Anex III);
- Tariff Schedule - Confidential);
- Financial Model, Methodology, and Assumptions (Anexo V - Confidential);
- Existing Rolling Stock (Anex VI - Confidential);
- Investments and Schedule (Anex VII);
- Railway Infrastructure Interventions (Anex VIII);
- Penalties (Anex IX);
- Means for the Safety of People and Assets (Anex X - Confidential);
- Means for the Safety of People and Assets (Anex XI);
- Alfa Pendular Service (Anex XII).
