Appointment and term
It is elected by means of a list voting system governed by provisions of law and regulations.
Following the standing down of the majority of the Directors, the Board of Directors appointed on 19 April 2023 was dissolved on 24 July 2023.
A new Board of Directors was appointed on the same date. It is made up of three directors who will remain in office till the Shareholders’ Meeting called to approve the financial statements as of 31 December 2023.
Members
At present, it numbers 3 directors.
In accordance with the guidelines laid down by international best practice, the principle of separating the roles of Chairman and Managing Director is complied with, thereby ensuring that the Chairman of the Board of Directors is properly impartial and balanced.
Activities
The Board of Directors is directly involved in all the most important decisions, except for those that the law or the Articles of Association reserve to the competence of the Shareholders' Meeting.
It is responsible for determining guidelines for the management and senior management of the Company and Group, verifying the general trend of operations and defining the corporate governance system and examining internal audit procedures, also with a view to identifying the company risks.
It also acts according to its own Corporate Governance Code, adopted on the basis of the recommendations laid down by the "Corporate Governance Code of Listed Companies" approved by the Borsa Italiana Corporate Governance Committee.