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Corporate Governance

Corporate Governance > Overview 

The Latin American Companies Circle


The Latin American Companies Circle is a unique initiative launched in May 2005 in Sao Paulo, Brazil at the recommendation of the Latin American Corporate Governance Roundtable, a network of public officials, investors, non-governmental institutes, stock exchanges and associations as well as others interested in corporate governance improvements in the region.


The 15-members Companies Circle brings together a group of leading Latin American companies who have adopted good corporate governance practices in order to provide private sector input into the work of corporate governance regional development and to share their experiences with each other and other companies in the region and beyond.


Through the Companies Circle, members showcase how leading Latin American companies can implement good corporate governance and the benefits their firms have experienced from undertaking these improvements. Most members of the Companies Circle are firms who securities are listed on local and international exchanges and who have significant presence in their capital markets. But their experience in boards of directors, shareholder and stakeholder relations, the control environment and transparency also provide important lessons for closely-held private corporations, including family firms.


The Latin American Companies Circle members are: Grupo Los Grobo (Argentina); Grupo Algar, CPFL Energia, Embraer, Natura and Ultrapar (Brazil); Grupo Argos, Carvajal and ISA (Colombia); Florida Ice & Farm Co. (Costa Rica); Homex and Grupo Compartamos (Mexico); Buenaventura, Ferreycorp and Grupo Graña y Montero (Peru).


The Companies Circle is currently sponsored by the International Finance Corporation (IFC) and the Global Corporate Governance Forum, and it is supported by the Organisation for Economic Co-operation and Development (OECD).


For more information, please contact:

Santiago Chaher
Latin American Companies Circle


Davit Karapetyan
Senior Corporate Governance Officer
Environment, Social and Governance Department, IFC



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