The set of rules, practices and processes by which a company is managed (governed) and management is supervised.
Corporate governance relates to good governing practices and covers the basic principles, rights, responsibilities and expectations of an organization’s board of directors. A well-structured corporate governance system aligns the various interests of all the stakeholders in a company, such as shareholders, management, clients, suppliers, financiers, government and the community. It supports the company’s long-term strategy.
The principles of the International Corporate Governance Network (ICGN) constitute an internationally recognized code for good corporate governance. The organization aims to improve corporate governance, risk management, remuneration policy, shareholders’ rights and transparency.