Argos has a Corporate Governance Code aimed at adopting measures regarding the corporation’s governance, management practices, officers’ conduct, truthful and fluent management of its information and public disclosure of its operation.
It is made up of six chapters in which there is explicit declaration of equal treatment, respect for the rights and regulations of relations with shareholders, the market, the different interest groups and the society in general. Hence, those who are interested in investing in securities issued by the company may learn about its code of conduct and that of the company’s officers.
The Code promotes the transparency of the voting process and strengthens the structure and the performance of the Board of Directors. Besides, it creates value through establishing transparent and efficient management structures.
This Code contains the Corporate Governance practices that have been proposed by the so-called Country Code (Código País), contained in Newsletter No. 28 of 2007of the Financial Superintendency.
In 2005, the Company was included among the companies in Latin America at the leading edge in reforms and improvement of Corporate Governance practices. The OECD (Organisation for Economic Co-operation and Development) and the IFC (International Finance Corporation), member of the World Bank Organization, made the recognition.