The supervisory body

A special Supervisory Body oversees the operation and compliance with Organisational Model 231, the Supervisory Body is economically independent and is composed of the Board Member Carlo Secchi, the Lead Independent Director and the Chairman of the CICRCG, the Statutory Auditor Antonella Carù and the Internal Audit Manager Maurizio Bonzi.

This structure assures that the Supervisory Body is completely autonomous and independent, as well as having the presence of the various professional skills which contribute to controlling the Company’s management.

The Supervisory Body is also responsible for ensuring that the Board of Directors implements all the necessary changes to the Organisational Model to incorporate the changes in legislation, the methods of performance and the type of business activities. On the other hand, the Supervisory Body reports to the Board of Directors, to the CICRCG and to the Board of Statutory Auditors in relation to the verification activities performed and their outcome.

Each member of the Supervisory Body is paid an annual fee of 25 thousand euro.

The Supervisory Body was appointed by the Board of Directors on April 21, 2011, and falls from office at the same time as the Board of Directors that appointed it.

The Supervisory Body was identified with reference to the other Italian Group companies, by searching for the technical and operative solution that was suited to the size and organisational context of each company.