Corporate
Governance
Fiscal Council
The Brazilian Corporate Law requires
the establishment of a permanent or
non-permanent Fiscal Council (FC).
Braskem’s bylaws provide for the
establishment of a permanent FC,
composed of five sitting members and
five alternates. It is a corporate entity
that operates independently from
management and the independent
auditing companies, whose primary
responsibility is to review the activities
of Management and the financial
statements, as well as render accounts
to Braskem’s shareholders.
The members of the Fiscal Council
are elected by the Shareholders at the
Annual Shareholders’ Meeting for a
one-year term and they may stand
for reelection. The mandates expire at
the subsequent Annual Shareholders’
Meeting. In accordance with the law,
members of the Board of Directors or
the Executive Board of the companies
cannot participate as members of
Fiscal Council. Employees, spouses
and relatives of members of the
management are also prohibited from
participating. The FC regularly meets
every three months and in special
meetings, when necessary.
As is the case with Braskem’s Board of
Directors, the Fiscal Council also has
an exclusive information channel that
can be accessed through the Braskem
website (www.braskem.com.br). The
composition of the FC, as of April 30,
2011, was as follows:
Fiscal Council
Sitting Members
Alternates
Maria Alice Ferreira Deschamps Cavalcanti
Carlos Alberto Siqueira Gomes
Aluizio da Rocha Coelho Neto
Jayme Gomes da Fonseca Júnior
Antônio Luiz Vianna de Souza
Marcílio José Ribeiro Júnior
Ismael Campos de Abreu
Afonso Celso Florentino de Oliveira
Manoel Mota Fonseca
Ana Patrícia Soares Nogueira
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