Governance
Transparency, ethics and responsibility
At AXIA Energia, these solid principles are the foundation of our corporate governance practices.
We are a publicly traded company, with shares listed on the stock exchanges of Brazil (B3) and the United States (NYSE). We are also registered with the CVM (Brazilian Securities and Exchange Commission) and the SEC (U.S. Securities and Exchange Commission).
Bylaws, policies, and manuals
To keep governance constantly up to date and efficient, we continuously develop and revise documents such as our Bylaws, as well as policies, internal regulations, and manuals that strengthen our internal and external processes.
Corporate governance structure
General Shareholders’ Meeting
The company’s highest decision-making body. The Meeting may be Ordinary (held annually within the first four months following the end of the fiscal year) or Extraordinary (convened in specific situations whenever necessary).
Statutory Audit Committee
It operates on a permanent basis. It consists of five members and their alternates, all residents of Brazil, elected by the General Shareholders’ Meeting. They serve until the next Ordinary Meeting and may be re-elected according to the Bylaws and applicable legislation.
Board of Directors
It consists of ten members, without alternates, elected by the General Shareholders’ Meeting for two-year terms, with the possibility of re-election.
Executive Board
The group responsible for the company’s day-to-day management. It consists of the President and up to fifteen Executive Vice Presidents. All of them are elected by the Board of Directors for two-year terms, with the possibility of renewal.
Audit Department
Reporting directly to the Board of Directors, the Audit Department’s mission is to protect and enhance the company’s value. It operates independently as the third line of defense in control and risk management processes.
Committees Supporting the Board of Directors
These committees are technical groups that assist the Board of Directors in making more informed and well-founded decisions. They consist of three to five members, internal or external, with terms of up to two years and the possibility of renewal.
Meet AXIA Energia’s five permanent committees
Risk management
At AXIA Energia, we are always attentive to the global landscape.
We continuously monitor our business environment to anticipate risks and respond to the expectations of our investors and society.
Our risk management model follows internationally recognized standards, such as ISO 31000 and the COSO 2013 and COSO ERM frameworks. This ensures that risk management is integrated into our strategies, initiatives, and organizational structure, in full compliance with sector regulations and regulatory bodies.
This management approach helps prevent adverse situations from affecting our strategic objectives.
The five stages of the Risk Management policy
The Executive Board and the Board of Directors, with the support of the Audit and Risk Committee, are responsible for assessing the effectiveness of the entire process.
- 1 Risk identification
- 2 Assessment
- 3 Treatment
- 4 Monitoring
- 5 Communication
Internal Controls Management
At AXIA Energia, we work continuously to maintain and improve our internal control environment, following both our own management rules and the requirements of regulatory bodies in Brazil and abroad.
Since our shares are traded on the New York Stock Exchange (NYSE) and we are registered with the U.S. Securities and Exchange Commission (SEC), we comply with regulations that require our internal controls to be rigorously assessed and independently audited.