Trust and reputation<102-17, 102-18, 102-20, 102-22, 102-23, 102-26, 102-28>
With strong indicators and internal controls regarding transparency, ethics, and anti-corruption practices, Toyota do Brasil has in place a governance model in line with its parent company in Japan and with the Latin American and Caribbean region. This model, which since 2015 has had a dedicated leadership in the region, seeks to strengthen the synergy between the subsidiaries.
In Brazil, the governance structure is comprised of the Board of Directors (BOD) and the Directors Meeting, directly reporting to TDB President Rafael Chang and to Toyota’s CEO for Latin America and the Caribbean, Masahiro Inoue. Composed of a Chairman, the President, and specific Vice Presidents, the Board of Directors is responsible for analyzing the results and defining strategies for the Brazilian market during its monthly meetings. While directly responsible for the decisions made in Brazil, the BOD must inform or gain formal approval from the parent company any measures considered more sensitive or strategic.
The Directors Meeting is made up of Vice Presidents and Directors, and is responsible for managing projects focused on the company’s strategic objectives in the country. There are also thematic working groups that support leadership in decision making, all of which are guided by the Code of Ethics and the Authorization Policy, a document that establishes the main working guidelines for company executives.
As a wholly-owned subsidiary controlled by the Toyota Motor Company (TMC), in Brazil the company does not have independent or non-executive members in its governance structure, following the criteria set out by the parent company regarding the requirements related to the presence of the company on the New York (United States), London (United Kingdom), Nagoya, Tokyo, Osaka, Fukuoka, and Sapporo (Japan) stock exchanges. <102-5>