Guidelines for a Latin American Code of Corporate Governance

The corporate governance of a company is a system composed of a set of principles, rules, and practices that regulate the relationship between those who provide resources and those who manage them. All this is accompanied by a culture of good practices, which generates the appropriate conditions for the principles and standards adopted by the company to be effectively applied in the management decision-making process. Thus, the implementation of a governance model that protects the interests of the owners and considers those of the different stakeholders must be adjusted to the organization’s actual situation. It should clearly define roles and responsibilities among shareholders, the Board of Directors and upper management, and ensure that the decisions made have a goal of creating long-term sustainable value as well as an alignment with good environmental and social practices with high ethical standards.