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Different views and perspectives among corporate leaders have been considered one of the foundations of success of modern companies. Diversity – not only in terms of gender, but also social class, ethnicity, culture and professional background, for example – helps companies understand their consumers’ needs and engage in dialogue with other stakeholders. A survey conducted by the US management consulting firm Russell Reynolds Associates, published in April, interviewed 60 directors at large global companies across 10 countries and concluded: diversity comes from the top and leaders play a critical role in driving diversity and should invest in the idea to help it become common culture among all employees.
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CEOs and chairs, for example, should ensure diverse boards by taking concrete and creative measures to seek candidates that fall outside the established standards. The survey also showed that inclusion is not limited to hiring and nominating professionals, but that it is also necessary that the teams adjust to the reality of new members and be flexible – not to mention the need of deconstructing a series of preconceived stereotypes and offensive behaviors.
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Russell Reynolds notes that there is robust evidence of the correlation between diverse leadership teams and better business outcomes. Diverse companies are better able to attract and retain top talents, improve customer and employee satisfaction and, in the majority of cases, improve their financial performance. Yet while diverse representation has been steadily increasing, the pace of change remains too slow relative to the challenges that businesses and society face—a clear indicator that there is still much to be done.
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The next meetings of Amec are confirmed, only for members:
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» Technical Commission – May 15, at Amec’s headquarters, in São Paulo, with remote access.
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» Foreigners Commission – May 21, via conference call.
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» Management Board – May 23, at Amec’s headquarters, in São Paulo, with remote access.
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» Board of Directors – May 30, at Amec’s headquarters, in São Paulo, with remote access.
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Click here to access the Association’s annual calendar of meetings.
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Amec elects new board members and vice presidents
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On April 22, Amec elected its new board of directors, composed of 15 members to hold office for two years. The board has 5 new members and 10 members were re-elected. Walter Mendes, CEO of Funcesp, was elected to chair the board. Two new members were elected for the management board, comprised of the CEO and 7 representatives of the association’s members. The Conselho Fiscal, with 3 members, was re-elected.
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The board is formed by members with diverse views and perspectives, including independent fund managers, large financial institutions and foreign assets. Women are now represented in it with the election of Daniela Costa-Bulthuis, representative of the Dutch asset manager Robeco. In addition to Ms. Costa-Bulthuis, the new members are Carlos Takahashi, from BlackRock, Marcelo Arnosti, from BB DTVM, Elmer Ferraz, from Itaú Asset Management, and Marcelo Nantes, from Bradesco. Find below brief bios of the members of Amec’s board of directors, management board and conselho fiscal. Read more
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Amec starts succession process
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In a notice to the market published on April 29, 2019, Amec – the Association of Capital Market Investors – made the succession plan of its leadership public. The decision is the result of debates between the association’s advisory board and board of directors in the past two years and is supported by the current CEO, Mauro Rodrigues da Cunha. Read more
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Association warns shareholders about moral hazard in CCR case
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On April 22, CCR approved, in its Shareholders’ Meeting, the payment of $71 million reais to 15 executives that agreed to close plea agreements. The company’s officers claimed that the payment was necessary to ensure that the plea agreements were signed and for the company continue with its activities. On April 12, Amec published a notice to the market warning minority shareholders about the need of reflecting on the mentioned matter as the payment of a compensation worth millions to employees involved in corruption cases can eventually create a moral hazard – situation in which one of the parties have an incentive (or is paid compensation) to act inappropriately. Read more
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Pioneering professional in corporate governance issues in Brazil, Bengt Hallqvist passes away at the age of 88
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Swedish Bengt Hallqvist, together with Mr. João Bosco Lodi, was one of the engines for the foundation of the Brazilian Institute of Corporate Governance (IBGC) and served in its board of directors from 1995 to 2001. He became a reference in the corporate governance sphere in Brazil and has been always recognized for his persistence and cordiality. Mr. Hallqvist passed away on April 13, in Gothenburg, Sweden. Read more
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Congresso ABVCAP
ABVCAP Congress
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Date: May 23 and 24, 2019
Venue: Teatro Santander, São Paulo, SP
Click here for additional information and to subscribe.
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9ª Conferência Brasileira de Contabilidade e Auditoria do Ibracon
Ibracon 9th Brazilian Conference on Accounting and Audit
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Date: June 10 - 11, 2019
Venue: Teatro Bradesco, São Paulo, SP
Click here for additional information and to register.
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Amec - Associação de Investidores no Mercado de Capitais
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Phone: +55 (11) 3707-0727
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R. Joaquim Floriano, 1.120, 10º andar/101
Itaim Bibi - São Paulo - SP - Brasil
CEP: 04534-004
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