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The Companies Circle of the Latin American Corporate Governance Roundtable was launched by OECD, IFC and its founding members in May 2005. The Circle brings together leading companies with practical experience in implementing best practices in corporate governance in the Latin American context.
The goals of the Companies Circle are:
- to provide a forum where members can discuss the challenges they face and the responses they have fashioned in improving their corporate governance in an atmosphere of collegiality and confidence;
- to share with the broader community of Latin American firms practical solutions to the corporate governance challenges facing companies in the region that improve operational and market performance; and
- to contribute to the work of the Roundtable the views and experiences of companies that have successfully undertaken corporate governance reforms.
The members of the Circle are firms whose securities are listed on local and international exchanges and who have a significant presence in their capital markets. Their experiences are of most immediate relevance to listed companies, and they recognize that unlisted family companies and the great majority of small and medium enterprises face a different set of governance challenges. Nevertheless, Circle members believe that some of the steps they have taken in areas such as boards of directors, shareholder and stakeholder relations, internal controls and transparency may present useful lessons for closely-held private corporations, and even modest family firms. When this is the case, the members of the Companies Circle will reach out to the wider universe of enterprises.
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