Odebrecht Oil & Gas (OOG) announces today the arrival of Nir Lander as the new leader of Compliance. The restructuring of the team, with the arrival of a new Chief Compliance Officer (CCO), is in line with the continuous evolution of the corporate governance structure of Odebrecht Oil & Gas. The CCO will report to the Compliance Committee, which is directly related to the Board of Directors of OOG. The Compliance Committee has three members - two directors appointed by Odebrecht and one independent member. 

With these changes, the Company aims to be on par with the most advanced compliance and governance practices in force around the world today. "The new structure of the company demonstrates the autonomy in addressing issues related to Compliance. The CCO will be linked to the Compliance Committee, reporting to the Board of Directors, which gives him full autonomy vis-à-vis the Company's management, with powers to investigate even the CEO," said Roberto Simões, CEO of Odebrecht Oil & Gas.

Nir Lander is an Israeli citizen who holds a degree in engineering and has more than 14 years of experience in large companies, having built a solid career in Internal Audit, Combating Corporate Fraud and Compliance. Lander comes to Odebrecht Óleo e Gás with the mission of implementing and disseminating best market practices in order to make the company a benchmark on the subject. "Our goal is to improve and maintain an effective Compliance System consisting of measures to prevent, detect and remedy - in a systemic manner - risks of non-compliance with applicable laws and the occurrence of any other unethical conduct," said Lander.

As the leader of the Compliance Program, the CCO will have the key responsibilities of monitoring exposure to risks, managing internal audit activities, monitoring internal control systems, supervising the Ethics Line, coordinating the Ethics Committee, disseminating the Code of Conduct, coordinating or authorizing internal investigations, holding training programs and supervising the corporate and corrective policies linked to compliance. 

Global Compact and Corporate Pact

To reinforce the company's commitment to compliance, Odebrecht Oil & Gas undertook two important commitments early this month: it joined the Global Compact of the United Nations Organizations (UN) and the Business Pact for Integrity and Anti-Corruption of the Ethos Institute.

The two initiatives seek to promote a more honest and ethical market and are an important step for the company. These are aligned with the Odebrecht Commitment to an operation guided by Ethics, Integrity and Transparency. 

Anchored in 10 principles, the Global Compact is an initiative to mobilize the international business community to adopt, in their business practices, fundamental and internationally accepted values in the fields of human rights, labor, environment and anti-corruption. A total of 12,000 organizations from around the world have voluntarily joined the Global Compact. The Business Pact for Integrity and Anti-Corruption aims to bring companies together to promote a more honest and ethical market, while eradicating the practice of bribery and corruption. Odebrecht Oil & Gas will voluntarily inform the main indicators related to these two pacts in its annual report, which will also detail all the actions taken to corroborate the commitments undertaken.