Ethics and Conduct Committee

Composition

The Ethics and Conduct Committee, appointed by the Audit Board in 7 of November 2019, is composed by:

  • Adolfo Mesquita Nunes, non-executive member of the Board of Directors - Chairman
  • Paulo Pisano, Head of People Department
  • Laura Santos, Head of Internal Audit
     

Powers and operation

The Ethics and Conduct Committee is an independent and impartial internal structure, that reports to the Audit Board, responsible for monitoring the implementation of the Code of Ethics and Conduct, as well as to follow up and clarify doubts regarding its application, and receive and process information transmitted to it under the Whistleblowing - Ethics Line, concerning alleged irregularities or infractions of the provisions of the Code of Ethics and Conduct or other internal regulations or rules dealing with the accounting, internal accounting controls, auditing and the fight against bribery, banking and financial crime. It is also responsible for promoting the training employees on matters of ethics and conduct. For more information, please see Ethics and Conduct and Reporting of irregularities pages.

During the year 2019, the Ethics and Conduct Committe held three meetings for analysing and deciding on forwarding reports of irregularities that were received and participated in four meetings of the Audit Board, during which the due report was provided to this body.

In 2019, 11 cases were reported to the Ethics and Conduct Committee and investigated under the Reporting of Irregularities Internal Standard. These cases were analysed and reported to the Audit Board for its decision. Out of these cases, one was related to fraud, seven to ethics issues, two to human rights and one others. Out of these 11 cases, only one situation required measures to be adopted by the Company in order to bring conduct into line with the standards laid down in the Code of Ethics and Conduct.