Governance

In 2012 the Board of Directors has set up two internal committees, which constitute one of the main tools for the management of the Company, whose functions are defined in the Code of Conduct for listed companies promoted by Borsa Italian SpA (“Code”).

In the year 2013, the Board of Directors, given the shareholders’ resolution of point 3.1) on the agenda of the General Meeting convened on 30 April 2013, which led to the statutory minimum number of three directors, voted to dissolve the nomination Committee and the remuneration Committee and the Control and risk Committee, reserving their functions to the Board of Directors under the coordination of the President. The dissolution of these internal committees is decided according to the criterion set out in p. 4.C.2 of the Code.

On August 10 2023, the Board of Directors reconstituted the internal committees (Audit and Risk Committee; Nominating and Compensation Committee; Related Parties Committee).

On July 22 2024, the Board of Directors resolved to establish two board committees (Appointments and Remuneration and Control and Risk), as required by the Corporate Governance Code to which the Company has adhered since October 10, 2023, assigning the evaluation functions on related party transactions to the Control and Risk Committee.