Board of Directors

The Shareholders' Meeting of 23 April 2018 appointed the Board of Directors. The 12 Board members are expected to remain in office until the approval of the financial statements for the year ended 31 December 2020. The members of the Board of Directors shall be elected on the basis of lists presented by shareholders, on which the candidates must be listed with a sequential number.

The lists presented by shareholders, accompanied by the personal and professional characteristics of candidates, must be lodged at the company's registered office within the term laid down by current legislative and regulatory provisions.

The lists may only be presented by shareholders who, either individually or with other shareholders, represent the percentage of share capital established in accordance with the CONSOB Regulation prevailing as at the date of convocation of the Shareholders' Meeting, to be specified in the convocation notice for the Shareholders' Meeting convened to elect the Board of Directors.

In order to demonstrate possession of the number of shares required for presentation of the lists, Shareholders must submit and/or deliver to the Company's registered office, within the term laid down by current legislative and regulatory provisions, copy of the certificates issued by their respective intermediaries, in accordance with current legislative and regulatory provisions.
 

Edoardo Garrone
Chairman - Executive
Alessandro Garrone
Deputy Chairman - Executive*
Giovanni Mondini
Deputy Chairman
Luca Bettonte
Chief Executive Officer
Massimo Belcredi
Director - Independent**
Mara Anna Rita Caverni
Director - Independent***
Barbara Cominelli
Director - Independent***
Marco Costaguta
Director
Paolo Francesco Lanzoni
Director - Independent**
Silvia Merlo
Director - Independent***
Elisabetta Oliveri
Director - Independent***
Mario Paterlini
Director - Independent***

*Director responsible for overseeing the Internal Control and Risk Management System

**The Board of Directors, which met following the Shareholders' Meeting on 23 April 2018, gave a positive evaluation as regards the independence of Directors Massimo Belcredi and Paolo Francesco Lanzoni in reference to the provisions set forth by Article 148, third paragraph of the Consolidated Finance Act. In this regard, note that, continuing the assessments carried out during the course of the previous three-year period, therefore giving more relevance to substance over form, as also recommended by the Corporate Governance Code, the Board of Directors confirmed that Directors Belcredi and Lanzoni do not maintain, nor have they recently maintained, even indirectly, with the Company or with persons linked thereto, relationships such as to currently influence their autonomous judgement, pursuant to Principle 3.P.1 of the current Corporate Governance Code promoted by Borsa Italiana. Moreover, in view of the length of their time in office, the Board of Directors considered it preferable not to qualify them as independent directors within the meaning set forth in the Corporate Governance Code. 

*** The Board of Directors also gave a positive evaluation as regards the independence of Directors Mara Anna Rita Caverni, Barbara Cominelli, Silvia Merlo, Elisabetta Oliveri and Mario Paterlini in reference to both the provisions set forth by Article 148, third paragraph of the Consolidated Finance Act and those laid down in the current Corporate Governance Code promoted by Borsa Italiana.