Statutory auditors
The Board of Statutory Auditors is responsible for the supervision of compliance with the law and by-laws.
President:
Ciro Di Carluccio
Statutory Auditors:
Piergiorgio Re
Ada Alessandra Garzino Demo
Committees
The Board of Directors has set up consulting committees, The Internal Control and Risks Committee and the Remunerations.
Internal Control and Risks Committee
The Board of Directors has internally constituted an Internal Control and Risks Committee composed of Ms. Secondina Giulia Ravera and Mr. Francesco Umile Chiappetta, Non-Executive and Independent Directors and Ms. Patrizia Polliotto, Lead Independent Director.
The Internal Control and Risks Committee:
• Evaluates together with the Director responsible for the preparation of the company's accounting documents, the auditor, and the Board of Statutory Auditors, the correct utilisation of the accounting principles and, in the event of groups, their consistency for the purpose of the preparation of the consolidated balance sheet;
• Expresses opinion on specific aspects relating to the identification of the principal risks for the company;
• Examines the periodic reports relating to the evaluation of the system of internal control and risk management, and those of particular relevance prepared by the Internal Audit function;
• Monitors the independence, appropriateness, effectiveness and efficiency of the Internal Audit function;
• May ask the Internal Audit function to perform checks on specific operating areas, simultaneously notifying such request to the Chairman of the Board of Directors;
• Report to the board, at least on a half yearly basis, on the occasion of the approval of the balance sheet and the half yearly report, on the activity carried out, as well as on the adequacy of the internal control and risk management system.
Remunerations Committee
The Board of Directors has internally constituted a Remunerations Committee composed of Ms. Secondina Giulia Ravera and Mr. Francesco Umile Chiappetta, Non-Executive and Independent Directors and Ms. Patrizia Polliotto, Lead Independent Director.
In accordance with art. 5 rec. 26 of the Corporate Governance Code, no Director shall participate in meetings of the Remunerations Committee in which proposals are submitted to the Board of Directors relating to his/her remuneration.
Independent Auditors
The independent audit firm is responsible for checking that the company's accounts are properly kept and that managerial operations are correctly reflected in the accounting records. The auditors also verify that the separate and consolidated accounts correspond to the accounting records and to verifications performed and that they are in compliance with the applicable regulations.
The Shareholders' General Meeting held on 19 April 2019, approved the appointment of PricewaterHouse Coopers S.p.A. as the Company's independent auditors for the nine-year period 2019-2027 which includes the audit of the separated Financial Statements, the annual consolidated Financial Statements and the half-year condensed consolidated Financial Statements.