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Corporate Governance

We hereby present information about Cemig’s corporate governance, including the functioning of our Board of Directors, self-assessment, attendance at meetings, among other information.

The Board of Directors of the Company comprises 9 (nine) members, of which one shall be the Chair. The members of the Board of Directors shall be elected for concurrent periods of office of 2 (two) years, and may be dismissed at any time, by the General Meeting of Stockholders. Reelection for a maximum of 3 (three) consecutive periods of office is permitted, subject to the requirements and prohibitions established in the applicable legislation and regulations.

The Board of Directors shall meet ordinarily, in accordance with its Internal Regulations, at least once a month, to analyze the results of the Company and its wholly-owned and other subsidiaries and affiliated companies, and to decide on other matters included on the agenda. It shall also meet extraordinarily, on convocation by its Chair, or by one-third of its members, or when requested by the Executive Board.

The attributions of the Board of Directors are those specified in the Bylaws.

Attendance of the members in meetings of the Board of Directors 
The average attendance rate of the members in the meetings of the Board of Directors in 2019 was 98%, above the minimum of 80% required by CEMIG.

Average Tenure of Members of the Board of Directors
The average tenure of the current members of the Board of Directors is 2,2 years..

Self-assessment by members of the Board of Directors 
According to the Bylaws Chapter IV - Management - Clause 12 §12 For the purpose of improving the Company, every year the managers and the members of the committees shall undergo individual and collective performance evaluation, with the following minimal requirements:

a) report on acts of management, as to lawfulness and efficacy of administrative action;

b) contribution to the profit for the period; and

c) achievement of the objectives established in the Multi-year Business Plan and compliance with the Long-term Strategy and the Annual Budget. 

Specific Indication and Succession Policy
Cemig has approved its Specific Indication and Succession Policy, specifically with regard to the appointment or removal of members to compose the Board of Directors, the Audit Committee, the Executive Board and the Fiscal Council of such companies and / or consortia in which they participate. It contains principles and guidelines related to Compliance, Transparency, Diversity, Professionalism and Proportionality.

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