The purpose of the Company’s Audit, Risk and Compliance Committee is to supervise, inspect and monitor the activities of independent auditors in the performance of their duties; verify the qualification of external auditors; make recommendations to the Board of Directors regarding the hiring and dismissal of independent auditors; evaluate and monitor the Company’s risk exposure related to management compensation and use of assets and expenses; supervise the internal audit and internal controls areas and the preparation of financial statements and their reporting; and evaluate the annual budget strategy prior to its approval.
The internal regulations of the Commercial, Digital, and Marketing Committee are currently being drafted for subsequent internal and Board of Directors’ approval.
The People Management Committee’s role is to assist the Board of Directors in analyzing the current People Management Policy; recommendation concerning the approval of the annual plan of indicators and goals for the Company’s Management remuneration; monitoring strategic indicators of people management; supervising and evaluating the long-term incentive program; monitoring the performance and development of Directors and senior managers; succession planning for key positions and formation of new leaders; decisions on hiring and termination of Executive Directors; advising the Chairman of the Board of Directors in the evaluation process of other Board Members and their advisory committees; evaluating the current and desired organizational culture of the Company; supervising compliance with the guidelines established by the Company’s Remuneration Policy; evaluating the remuneration of the Company’s administrators and recommending to the Board of Directors the corresponding amount for the individual remuneration of each management body; assessing the adequacy of the Company’s Remuneration and Benefits Policies and suggesting changes; advising the Board of Directors on the application and compliance of the aforementioned Policies; and advising on the update of management instruments, such as the Code of Ethical Conduct and others that express the values of the Company’s organizational culture.
The internal regulations of the Strategy, Finance, and Financial Services Committee are currently being drafted for subsequent internal and Board of Directors’ approval.