Governance model
A governance system striving for excellence
Our corporate governance model (Italian model, so called traditional model) is in line with principles set down in the Code of Self-Regulation for listed companies, as determined by Borsa Italiana S.p.A. in October 1999 and subsequently modified, with recommendations formulated by CONSOB and international best practice.
It approves the Financial Statements, appoints the Board of Directors, Board of Auditors and Indipendent Auditors and also resolves upon amendments to the Company By-Laws It supervises compliance with legislation and the Company's By-Law and is responsible for controlling management It defines strategic policies and is responsible for managing the company The are responsible for auditing company accounts It helps the BoD to assess the sustability of the internal auditing system. It also assesses the correct use of accounting standards * It expresses opinions on BoD size, composition and professional skills of the directors; It voices opinions of the company's interest regarding the performance of trasactions with related parties, as per advantages and substantial correctness of the relative conditions It checks that the "Model 231" functions correctly and is responsible for the relative updates It is responsible for checking the actual application and suitability of accounting and administrative procedures It helps the BoD to assess the sustability of the internal auditing system. It also assesses the correct use of accounting standards * It expresses opinions on BoD size, composition and professional skills of the directors; It voices opinions of the company's interest regarding the performance of trasactions with related parties, as per advantages and substantial correctness of the relative conditions It checks that the "Model 231" functions correctly and is responsible for the relative updates It is responsible for checking the actual application and suitability of accounting and administrative procedures * The Board of Auditors is responsible for supervising autiding pursuant to Article 19 of Italian Legislative Decree No. 39/2010
Propose Directors in case of co-optation should ther be necessary to substitute independent directors;
It is responsible for proposing the fees for directors with specific offices as well as incentive and salary schemes for top managers, supervising application of BoD decisions
Propose Directors in case of co-optation should ther be necessary to substitute independent directors;
It is responsible for proposing the fees for directors with specific offices as well as incentive and salary schemes for top managers, supervising application of BoD decisions