Currently, organizations willing to reach success clearly understand that they must opt for having a good corporate governance. This will guarantee a trust in the market, its profitability and, especially, its sustainability.
But, what does it mean and take for a company to have a good corporate governance?
Corporate governance are the principles and regulations that regulate the design, integration and functioning of the governance board of the company, such as the Shareholders, the Board of Directors and the Top Management. In order to achieve a good corporate governance, companies must be very strict with these principles and respect the standards demanded by both the national and international market.
Rafael Venegas, one of our directors, has this comprehensive vision and acknowledges, for instance, that the plurality opinion and independence among the members of a board of directors is one of the most important values for having a good corporate governance.
In order for a board of directors to be effective and to have a good corporate governance, at least half of its members must be independent
Venegas adds that, the Board of Directors of the Graña y Montero Group currently has between 5 and 9 independent directors, which results in achieving transparency in the company. Likewise, he adds that this is still an unexplored matter in Peru.
Similarly, Rafael Venegas considers that: “50% of the directors should not be related to the industry they are working in, so that they can provide with diverse and impartial visions on, for example, risk matters, technology, the digital era. The other 50% must have a more specialized knowledge of the business”.
The OECD, (Organization for Economic Co-operation and Development), on the other hand, points out that in order to have a good corporate governance, companies must have a board of external consultants that will add value in strategic matters. In the same way, they mention that this board must strengthen the board management, help in the administration of risk and internal control, provide with transparency in the information and facilitate the sustainability and permanence of the company policies and values.
at Graña y Montero, precisely, we are working to build an External Advisory Board, which will be made up by expert professionals having the best practices in transparency and Good Corporate Governance. This team will contribute in the process of strengthening the Group