Committees

In order to support the Board of Directors on specific matters and ensure more consistent and responsible decisions for the Group, the committees below act directly submitted to senior leadership, with an advisory character:

Financial and Supplies Committee

supports the board in analyses and decisions related to purchases and financial aspects, through opinions and recommendations. It has one executive director and two board members, one of them is independent.

Ethics and Compliance Committee

creation was formally approved by the Board of Directors of SIMPAR S.A.; the body to which it reports; this committee is a corporate body and serves all controlled companies of SIMPAR S.A.; it has an external member to ensure the Committee’s impartiality. Its resolutions are reported to the Company’s Board of Directors. The group’s purpose is to support the Board of Directors and the Executive Board in creation was formally approved by the Board of Directors of SIMPAR S.A.; the body to which it reports; this committee is a corporate body and serves all controlled companies of SIMPAR S.A.; it has an external member to ensure the Committee’s impartiality. Its resolutions are reported to the Company’s Board of Directors. The group’s purpose is to support the Board of Directors and the Executive Board in.

Sustainability Committee

of corporate character, this committee is linked with the Board of Directors and has internal rules, which highlight the support provided to senior leadership in the fulfillment of legal obligations and development of investment plans and financial and non-financial projects in aspects. The group meets monthly and has 3 to 5 members, headed by a board member and an independent member, in addition to executives from our own departments and divisions.

Internal Control and Risk Management Committee

created in 2018, it had two specific meetings during 2019, with discussions on risk management with the company’s senior management. It includes the CFOs of the Group’s companies and representatives from the Internal Controls, Risks and Compliance departments.

Audit Committee

the Audit Committee supports the Board of Directors and aims to oversee the quality and integrity of financial reports, compliance with legal, statutory and regulatory standards, the adequacy of risk management processes and the activities of independent auditors. The committee meets whenever necessary, but at least every two months, or, extraordinarily, whenever called by the coordinator or by written request of any member of the Audit Committee. It is composed of at least 3 members, who are appointed by the Board of Directors, with at least 1 independent member.