Governance Model
The Company’s management and control model is “ordinary” (as required by Italian law), ie. based on a board of directors, a statutory audit committee and external accountants. These bodies are elected by the shareholders and hold office for three year periods (except for the external accountants who are retained for nine years).
The substantial number of independent directors and the key roles they play both on the Board and in its committees ensured effective reconciliation of interests across all the shareholders and a wide base for board room discussion even before they became requirements under recent legislation.
The model is illustrated in the Annual Report on corporate governance and ownership structure.
Last update: 06/05/2011