Corporate Governance is considered the cornerstone of a modern industrial concern and represents the expression of a shift in sensibilities among lawmakers regarding the relationship between ethics and business; this concept encompasses everything that 'governs' the activities of a business to ensure the attainment of its corporate goals.
Corporate Governance is defined as the system intended to ensure the integrity of the company and, therefore, safeguard the process creating value for shareholders and for all other stakeholders (investors, employees, suppliers, clients, banks, the community etc.), ensuring information transparency, managerial accountability, efficacy and efficiency. For Brembo, it stands for the “set of rules and procedures that govern processes for decision-making and for controlling and monitoring the activities of the business”.
It is the relationship of mutual respect and trust between individuals that must permeate every single aspect of working life, even in a corporate entity such as Brembo, with more than 6000 employees around the world. A reality which – in the words of Group President Alberto Bombassei – “cannot ignore behaviours and relationships inside and outside the context of the company, not only for the success of its business activities but also - and more importantly - as attention to these aspects is an unequivocal way to assert values inspired by acknowledged, shared ethical principles”.
In practice, in a company that adopts these principles, there are internal governance bodies and instruments in place serving to disseminate the corporate culture among its employees and to avoid risks in corporate decision making. These instruments include the Code of Ethics, the Corporate Governance Manual and the Organisation, Management and Control Model, which guide and direct corporate activities and define the roles of the governance bodies, chief among which the Board of Directors, the Internal Control Committee and other Governance Committees.