We have adopted the traditional administration and control model, which we believe is the most suitable for ensuring management efficiency and effectiveness of controls. This model has so far proven successful in terms of the creation of value for shareholders, the strengthening of capital and financial equilibrium.
Proper governance is the prerequisite for effective business management.
We adhere to the purposes and indications of the Corporate Governance Code and our governance system is in line with the principles and the recommendations established by the Supervisory Body, Code and best practices of the market.
Our goal is to always ensure the fair division of responsibilities and powers, through a correct balance between management and control.
The Shareholders’ Meeting has named the company Ernst & Young S.p.A. as external auditor, up until approval of the financial statements as at 31 December 2022.
This Body is called on to perform the functions of an internal body attributed autonomous powers of initiative and control as set out by Italian Legislative Decree 231/2001.
A Board committee with investigation functions of a propositional and consultative nature; especially in processes to appoint or co-opt directors, when assessing the best qualitative-quantitative composition of the Board and in the Board’s self-assessment.
A Board committee with investigation functions of a propositional and consultative nature; especially in processes related to the internal control and risk management system and concerning periodical financial reporting.
The main tasks of the Shareholders’ Meeting are: approve the financial statements, appoint and revoke members of the Board of Directors establishing fees; appoint Statutory Auditors and the President of the Board of Statutory Auditors establishing their fees; resolve on remuneration policies and on transactions that involve amending the Articles of Association.
The Chairman chairs and guides the works of the Shareholders’ and Board of Directors’ Meetings; for the latter he makes sure that all Directors are provided with suitable information for items on the agenda.
The tasks of Internal Audit include controlling that the internal control system and risk management are complete, suitable, functional and reliable.
Internal Audit Department
Manager charged with Preparing the Company’s Financial Reports
He/she establishes suitable administrative and accounting procedures for drafting the financial statements for the fiscal year, the consolidated financial statements and any other financial communications.