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