There is little knowledge about how informal networks have influenced corporate governance and organizational behavior in Latin America. Firms’ directors tend to establish informal control and management mechanisms, creating ties with other firms by sitting in their boards. These links are called Interlocking Directorates (IDs). As a result, business agents develop unique national power structures. The study will describe the corporate network structure in Peru for 2000, 2005, 2010 and 2015, analyzing its evolution, configuration and characteristics, considering the most important economic, social and political events of the latest 15 years. It will use a sample composed of financial, non-financial, public and state-owned firms. The study applies Interlocking Directorates, Social Networks, Institutional and Resource Dependence theories, using an Upper Echelons perspective as well. The results will shed light on changes in emerging economies’ corporate governance, firms’ decision-making process in Peru and add an empirical study from Latin America.