Committees, set up to improve the functioning of the board, are primarily consultative and recommendatory. They are composed exclusively of non-executive directors.
Board of Committees
The Bank of Italy Circular No. 285 and the Corporate Governance Code set forth a recommendation for listed companies to set up certain Committees within their Boards of Directors, to be assigned responsibility for specific matters.
The roles of these Committees, set up for the purposes of improving the functioning of the Board, are primarily consultative and recommendatory.
In compliance with the foregoing provisions, the Board of Directors of 12 April 2018 passed a resolution to establish the following three Board Committees exclusively made up of non-executive and independent Directors (therefore in line with the statutory provisions adopted in the previous term through Resolution dated 23 April 2015):
- Nomination, Governance and Sustainability Committee;
- Internal Audit and Risk Committee;
- Remuneration Committee.
These Committees shall be dissolved upon termination of the Board of Directors, for any reason whatsoever.