The purpose of the Company’s Statutory Committee of Audit and Risk 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 purpose of the Strategy, People and Culture Committee is to support the Board of Directors in overseeing and monitoring: the Company’s strategic guidelines; the people, succession, and leadership agenda; organizational culture; compensation and incentive programs; organizational transformation and the long-term sustainability of the business; and ESG (environmental, social, and governance) practices and corporate sustainability.