Governance Structure

GRI 102-5, 102-12, 102-13, 102-16, 102-18

We have been an unlisted publicly held company since 2007, when we held our first public issue of debentures. We adopt principles, governance structure and routines in line with good market practices, respecting the basic principles of transparency, equity, accountability and corporate responsibility. To this end, we have tools to identify, measure, control and manage corporate risks, thus ensuring safe decision-making. We use modern, up-to-date systems, controls, policies and management indicators.

We follow the guidelines of the Code of Corporate Governance’s Best Practices of the Brazilian Institute of Corporate Governance (IBGC). Among the practices we adopt, we can mention the structure of our Board of Directors, which must include 2 or 20% (whichever is higher) independent members. Other examples are a ban on accumulating positions of executive, director or committee member and the other committees, and the introduction of three advisory committees: Audit and Risk Management, Human Talents and Corporate Governance, and Strategy and Innovation. See more in our website.

New Partner

Archy LLC, an affiliate of GIC (Singapore Sovereign Fund), joined Algar Telecom, becoming a shareholder of 25% of the total capital. The transaction was approved by the Administrative Council for Economic Defense (Cade) and the National Telecommunications Agency (Anatel). We thus have a new partner, which has investment offices in more nine countries, apart from Brazil. 

Corporate Restructuring

Following the entry of Archy LLC, an affiliate of GIC (Singapore Sovereign Fund), the Board of Directors decided to subscribe shares issued by the Company. Therefore, the parent company of Algar Telecom, Algar S.A., had 68% out of the total of 295,019,806 million shares on December 31, 2018.

Governance Structure

Board of Directors

The highest management body was created to ensure a professional and sustainable business, to make decisions and to define and monitor the strategies defined. Every year the Board is evaluated on three fronts: an analysis of the Board as a collegiate body, of the individual members, and of the Chair. It consists of up to eight board members: two of them are independent. There are currently six elected members.

To learn more about the profile of each member of the Board of Directors, access the IR website of Algar Telecom.

Advisory Committees

The Board of Directors is supported by three specialized and non-deliberative committees to help the board members to deepen the analysis of specific issues in the decision-making process. Here they are: Audit and Risk Management Committee, Human Talent and Corporate Governance Committee, and Strategy and Innovation Committee. Their members are elected annually by the Board of Directors, to which they report to. Similarly to the Board, the Committees also have internal regulations that regulate the operation and establish the responsibilities and attributions.

Audit and Risk Management Committee

Its work is to ensure quality, integrity, transparency and credibility of economic-financial disclosures, and promote the monitoring and management of corporate and operational risks, with effectiveness in internal and external audit processes and internal controls.

Human Talents and Corporate Governance Committee

Its mission is to ensure that Human Talents are strategically managed and that this is seen by the stakeholders as a competitive differential of Algar Telecom; and to ensure that the best practices of corporate governance are adopted and constantly upgraded, to reinforce the company’s vision of the future and its long-term prospects.

Strategy and Innovation Committee

Promotes and ensures the discussions within the Board of Directors on matters of high relevance and impact to the Company in relation to strategic guidelines, innovation, investments, including acquisitions, new business and budgets, as well as setting goals of performance based on economic value creation.

To learn more about the profile of each member of the Board of Directors, visit the IR website of Algar Telecom..

Executive Board

The C-Level of Algar Telecom are responsible for complying with the strategic orientation determined by the Board of Directors. This body chooses key executives, based on qualification, experience and value alignment, and also monitors their performance.

*Statutory Executive Board

To learn more about the profile of each member of the Board of Directors, visit the IR website of Algar Telecom.