Governance

Braskem was created by following the most modern practices of  Corporate Governance , based on principles that favor transparency and establishing the conditions for the development and maintenance of a long-term relationship with its investors. The following are some of the Company's key Corporate Governance practices:

  • Level 1 in the Corporate Governance's listing segment of B3, the Brazilian Stock Exchange, since February 13, 2003.
  • Braskem also complies with other requirements of the Level 2 and Novo Mercado segments of the B3, such as: (i) 100% tag-along rights for all Braskem shareholders in the event of transfer of control; (ii) reporting of financial statements in accordance with international standards (IFRS); (iii) Board of Directors formed by at least five members, with a unified term of up to two years, and at least 20% of independent board members*
  • An Audit Board with expanded powers, as per the Sarbanes-Oxley Act, with the objectives of monitoring the process for hiring independent auditors, as well as supervising and analyzing the work of these auditors
  • Integration Program for Directors, through which the Business Leader and the Chief Compliance Officer present to new Board Members the Company's Governance and Compliance practices
  • Corporate Policies which reinstates the Braskem's responsible and transparent management
  • Global Code of Conduct, which establishes the values, principles and corporate practices of the Company
  • Ethics Committee, which purpose is to handle reports received through the Ethics Line
  • Private information systems for the Board of Directors and its Committees
*"Independent director", according to the Brazilian Stock Exchange definition, is a member of the Board of Directors that: (i) has no ties to the Company, other than an equity interest; (ii) is not a Controlling Shareholder, spouse or close family member (to the second degree) of a Controlling Shareholder; (iii) in the 3 previous years has not been an employee or officer of the Company, or of the Controlling Shareholder or of a subsidiary of the Company; (iv) is not a direct or indirect provider, supplier or buyer of goods and/or services; (v) is not an employee or senior manager of any company or entity that is offering or requesting services and/or products to and from the Company; (vi) is not a spouse or close family member (to the second degree) of any senior manager of the Company; and (vii) is not entitled to any payment by the Company other than the consideration earned as director (excluding cash distributions received in the capacity of an equity holder).