Westwing’s corporate governance structure aims to contribute to the Company’s transparency and the consequent creation of value for shareholders, respecting the relationship with the company’s various stakeholders.
Our structure is composed of three main bodies: the Board of Directors, the Audit Committee (non-statutory) and the Executive Board. The Fiscal Council was not installed for the 2021 fiscal year.
The Company’s Board of Directors is currently composed of five members, two (40%) of whom are independent directors. The main functions of this body are to establish the general orientation of the Company’s business, approving the basic guidelines, policies and objectives; elect, dismiss and set the remuneration of the members of the Executive Board, as well as supervise their management.
The Audit Committee was installed by determination of the Company’s Board of Directors. The committee shall ensure the Company’s compliance with applicable laws, standards and regulations, assess and review the use and reliability of internal controls, compliance and corporate risks, and monitor its risk exposure.
The Company’s Executive Board consists of 11 members, seven of whom are statutory Officers. It is responsible for ensuring the Company’s full and regular functioning, preparing proposals for general business guidelines, accounting reports and the proposal for the Company’s profits allocation.
|Novo Mercado||Westwing has its shares listed on the Novo Mercado segment, B3’s highest level of corporate governance.|
|Board of Directors||40% of Board members are independent (2 out of 5)|
|Fiscal Concil||Not installed for the fiscal year of 2021|
|Board of Directors’ Committees||
|Governance, Risk Management and Compliance||