New Steel S.A is a privately held company; however, its corporate governance is similar to that of publicly traded companies which are listed in the highest segments of the national capital market.
Environmental responsibility represents the very reason for New Steel’s existence and a solid corporate governance is a complementary feature for the social responsibility of the company.
The Corporate Governance Manual is intended to provide New Steel with the guiding principles of the best practices in corporate governance, which include transparency, accountability and an egalitarian attitude in its relationship with stakeholders ; consequently, excellent standards in its activities and the longevity for the company.
This Manual contains provisions established in several corporate governance instruments such as the shareholders agreement, the bylaws, the regulations and the code of ethics, which were inspired in the best existing practices in the country. The manual indicates the power and duties of shareholders, managers, members of the councils and committees, as well as those of collaborators in general.
New Steels Corporate Governance Manual was devised respecting the interests of shareholders and as a tool to achieve its strategic vision as explained below.