IBGC revises its Governance Code

In the midst of important changes in the Corporate Governance environment, IBCG (the Brazilian Institute of Corporate Governance) will be revising its main document: the Code of Best Practices in Corporate Governance. Published for the first time in 1999, the Code will undergo its forth revision.

The Institute seeks to collect subsidies to foster the discussions of the committee responsible for the revision, coordinated by IBGC’s Chairwoman, Eliane A. Lustosa. Amec’s CEO, Mauro Rodrigues da Cunha, was invited by IBGC to participate in the Code Revision Committee. Other members who will be taking part in the committee are the Institute’s former CEO, Gilberto Mifano, the former president of the Brazilian Securities and Exchange Commission (CVM), Maria Helena Santana, and the coordinator of the Committee of the Board of Directors, Paulo C. Vasconcellos.

Among the issues to be analyzed are the improvement in the way the code is addressed, whether on practical or theoretical terms, and its structure and length. Additionally, IBGC will be accepting suggestions to improve the current version’s chapters. The data collected will be part of the new Code, which draft will undergo a new public hearing.

This new edition will be launched in 2015, when the Institute will be celebrating two decades of work focused on disseminating the best governance practices.