Corporative Governance

A modern management model

Although we are a Limited company (Ltd.), we find inspiration in the bigger strictness of the Corporations (Inc.) to design our corporative governance model. Why? Because we understand that robust Governance is essential for conduction of our business in an effective, ethical and transparent manner, thus contributing for the maintenance of the company and feeding its sustainable development back. Therefore, our Governance structure includes instances that are atypical for Ltd. Companies, such as a Board of Directors.

See how we are structured:

  • General Associate Meeting:comprised of three associates; in the Meetings, they discuss subjects such as the acquisition and selling of assets, payment of interests on capital, remuneration of associates and entitlement to credit etc.
  • Board of Directors:comprised of three associates, two advisors from the company’s staff and an external advisor; the Board, among other attributions, discusses about strategy, annual budget, hiring and firing of directors and the approval of bills of the Executive Chair and purchases of expressive value or out of the budget. In monthly meetings, the board evaluates deliveries to the Chair, follows the macroeconomic and regulatory environment and the financial performance of the company, making strategic decisions that support the executive instance.
  • Executive Chair:leads the directive body and is liable for all of the company’s operations, in accordance with our strategic planning and established goals.
  • Executive Management:We have seven Management boards, answering for their respective areas: Strategy and Administration, Institutional Relations, Human Resources, Administration and Governance, Operations, Business Units B2B and B2C. We also have three areas directly related to the Chair: Integrated Development Center (IDC), External R&D Management and Quality Assurance Management.

Our Governance Instruments

Among our governance tools are the internal and external audits, the Code of Ethical Conduct, the Office of the Ombudsman, Human Resources, Legal and Compliance.

Our Code of Ethical Conduct includes our principles and values and establishes standards that must rule our internal and external relations on our daily activities.

For clarification of questions and communication of violations or suspected violations of our Code of Conduct, we maintain an independent Office of the Ombudsman channel, run by the TMF Group. The reports can be submitted via telephone, email or internet, and may be done anonymously. When the person identified him/herself, he/she receives a direct answer about the measures taken. If the person chooses anonymity, he/she will receive a protocol that allows him/her to follow the case progress.

Office of the Ombudsman Channels

Email: ouvidoria@libbs.com.br

 

Web: ouvidoriaweb.libbs.com.br

Phone: 0800 70 22 312

In order to strengthen the knowledge of our employees on the Office of the Ombudsman and the Code of Ethical Conduct, we created the itinerant Office of the Ombudsman. Professionals from the Administrative Management and Corporative Governance randomly select a group of employees to interview them on the subject, capture their view on our ethical and compliance practices, clarify questions or reinforce relevant points.