Corporate Governance Model
The corporate governance model adopted by Argo is based on the guiding principles of integrity, transparency, fairness, corporate responsibility, and accountability, with the objective of generating sustainable value for the Company, aligned with the best corporate governance practices.
Argo has strategically incorporated solid corporate governance practices, such as: (i) a comprehensive governance structure; (ii) implementation of a secure electronic system for providing supporting materials and confidential information to governance bodies and shareholders; (iii) a robust governance policy; (iv) an annual meeting agenda and calendar, among other practices considered market benchmarks.
Recognizing that strong governance inspires greater trust among stakeholders, the Company is committed to the continuous improvement of its corporate governance practices, focusing on implementing and enhancing its structure to generate long-term sustainable value.
Argo’s Governance Structure
Argo’s Governance Structure has the General Meeting, composed of shareholders, as its highest decision-making body. The Company is managed by the Board of Directors and the Executive Board, which also hold decision-making authority in accordance with the powers granted by its Bylaws. The same governance structure applies to all other companies within the Argo Energia Group.
Additionally, the Company’s Bylaws allow for the creation of Support Committees to assist the Board of Directors. These committees operate in a technical and advisory capacity, aiming to ensure value creation and the adoption of best practices by Argo, while issuing non-binding recommendations to the Board of Directors.
Finally, Argo’s governance bodies have their own internal bylaws, duly approved by the Board of Directors, which define their principles, responsibilities, and functions. For more information, please review the full bylaws by clicking here.
