The Board of Directors on 24 April 2018 appointed a Related-Party Committee consisting of three independent, non-executive directors:
- Angelo Renoldi – Chairman, independent non-executive director
- Elena Biffi – independent non-executive director
- Cristina Rossello – independent non-executive director
Members of the Related-Party Committee hold office until the expiry of their mandate as directors and, therefore, until the approval of the financial statements for the year ending 31 December 2020.
The Board of Directors has granted the Related-Party Committee the following functions and authority:
- to issue opinions on the board resolutions with regard to the adoption and amendments of the procedures on related-party transactions, pursuant to Art. 4 paragraphs 1 and 3 of Consob Regulation 17221/2010 and subsequent amendments;
- to issue, without prejudice to alternative measures envisaged by the Regulations and by the relative procedure in cases where a member of the committee is identified as a related party in a specific transaction, opinions on material and non-material transactions pursuant to Articles 7 and 8 of the Regulations.
In 2017, no meetings were held by the Related Parties Committee.