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 running of a business.
We observe the aims and indications of the Corporate Governance Code of Companies Listed on the Italian Stock Exchange, and our governance system is in line with the principles of the Code, Consob’s recommendations, and best practices.
Our goal is to always ensure the fair division of responsibilities and powers, through a correct balance between management and control. The traditional governance model that we have adopted establishes that:
Strategic supervision is performed by the Board of Directors. In line with the provisions of the Corporate Governance Code, the Board has set up three committees within it which have powers of investigation, consultation and proposal: Control and Risks, Appointments, Remunerations;
Management is entrusted to the CEO. The General Manager participates in management;
Control is performed by the Board of Statutory Auditors.
Also in perspective, we believe that the traditional model will remain the most suitable to support a harmonious and orderly development of the Banca Ifis Group: this structure has so far shown to facilitate a clear definition of responsibilities, a streamlined decision-making process and an effective means of communication between the corporate bodies.