In order to amend these failures in corporate governance, after the fact Aracruz decided to rearrange its governance structure. In the end of 2008, the company created a new control and risk management area, which was independent of the existing financial area and would monitor financial and operational risks. Managers also approved in 2009 an investment and financial risk policy, which made a lot of constraints to hedging strategies, such as prohibiting leverage and structured financial transactions with built-in derivatives.