Governance structure

Evolving corporate governance practices is a constant concern for Algar Telecom. As an unlisted publicly-held company, we have held ten public debenture issues and one promissory note issue, as a result of our direct relationship with the capital market since 2007.

Our transparent management reporting was once again reflected in the ABRASCA Award for best Annual Report (publicly-held companies with net revenue up to R$3 billion), which we have won four times, of which three times in a row. This gives us encouragement and confidence in the path we are taking.

The principles, structure and routines we adopt are in line with the market’s best governance practices and they follow the basic principles of transparency, fairness, accountability and corporate responsibility. We have tools to identify, measure, control and manage corporate risk while pursuing security for decision making. We use modern and up-to-date management systems, controls, policies and indicators.

We follow the guidelines set by the Brazilian Institute of Corporate Governance (IBGC) in its Code of Corporate Governance’s Best Practices. We have adopted several practices recommended by the institute, including the composition of our Board of Directors, which has to include at least 2 independent directors, or 20%, whichever is greater. We do not allow executive, board or committee members to hold more than one position; we maintain Audit and Risk Management and People advisory committees; we publicly disclose our annual management report and provide a channel to gather opinions, criticisms, complaints and reports on behavior that breaches our Code of Conduct. More details of our practices can be found on our website by clicking here.

Corporate structure

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