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The latest edition of Lighthouse Brazil provides an in-depth analysis of the evolving trends in Brazilian corporate governance. Drawing from data collected during the 2024 proxy season, this report highlights key developments in board elections, executive compensation, board independence, and shareholder engagement. We feature insights from governance leaders across Brazil, including:
- Agnes Blanco Querido, Managing Director, Sodali & Co
- Victor Betini, Director, Sodali & Co
- Eduardo Vieira Mattos, Manager, Sodali & Co
- Fabio Lopes Patitucci, Associate, Sodali & Co
- Valeria Café , CEO, Brazilian Institute of Corporate Governance (IBGC)
- Muiz Martha, Knowledge & Impact Officer, Brazilian Institute of Corporate Governance (IBGC)
- Paul Magalhães, Partner, Listed Companies
Demarest - Maiara Madureia, Partner, Listed Companies
Demarest - Fabio Coelho CEO, Association of Capital Markets Investors (AMEC); Board Member, International Corporate Governance Network (ICGN)
Key findings include a continued preference for slate elections despite increasing scrutiny over board independence and diversity, growing shareholder concerns regarding executive compensation transparency, and a noticeable shift toward greater board independence among companies listed on the IBrX-50. The report also explores the rising participation of minority shareholders, emphasizing the need for more inclusive governance practices.
As companies prepare for the 2025 proxy season, staying abreast of these trends is crucial to maintaining strong investor confidence and aligning with best governance practices. Download Lighthouse Brazil to gain valuable insights and guidance on navigating Brazil's corporate governance landscape.
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Summary
Download to unlock a comprehensive analysis of the latest trends in Brazilian corporate governance, based on data from the 2024 proxy season. Our articles examines key areas including board elections, executive compensation, board independence, and shareholder engagement. Notably, slate elections remain dominant, while shareholder scrutiny on executive compensation continues to rise. The study also highlights a growing emphasis on board independence, particularly among companies listed on the IBrX-50, and increasing participation from minority shareholders. This report provides essential insights for companies preparing for the 2025 proxy season and seeking to align with evolving governance standards.
Author
Agnes Blanco Querido
Managing Director
Sao Paulo
agnes.blanco@sodali.com
Eduardo Mattos
Manager, Corporate Governance & ESG
Victor Betini
Director
Fabio Lopes Patitucci
Associate, IR Analyst
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