Abrasca answers Amec’s letter about the transparency in management compensation

Last July, Amec – the Association of Capital Market Investors – sent a letter to 33 companies listed in Ibovespa index that currently make use of the IBEF-RJ injunction to refrain from releasing their management’s compensation as established by the Brazilian Securities and Exchange Commission (CVM). The association received answers from B2W, Bradesco, Bradespar, Braskem, Gerdau, Lojas Americanas, and Vale, and also from Abrasca – the Brazilian Association of Publicly-Held Companies. Abrasca explained that some of its members felt uncomfortable with the request.
“Amec would like to express its satisfaction with the companies that answered to its letter, even in the case of those who defend the maintenance of the status quo. We believe that the dialogue and sharing of experiences are the best way to create value for the Brazilian capital market and, accordingly, we always seek to adopt this posture,” explained the CEO of Amec, Mauro Rodrigues da Cunha. The CEO also highlighted that the association’s doors are open to the companies. “We have already received representatives of listed companies to express their points of view and learn about investors’ opinions. We look forward to receiving them to have an objective and mature dialogue,” Cunha states.
Click here to access Amec’s letter to the companies.
Click here to access Abrasca’s answer to Amec.