Functions and composition
The role of the Board of Directors is to define the strategic planning of the Company and the Group and it is responsible for governance in the running of the company. The Board of Directors has the right to carry out all actions deemed appropriate in order to implement and achieve the corporate purpose, with the exception of those actions that are reserved by law or by the Articles of Association to the Shareholders’ Meeting.
The Board of Directors currently in office was appointed during the Shareholders’ Meeting on 1 June 2018 on the basis of the “list voting” system and it resolved that the number of board members would be 11 (it was 13 in the previous mandate). The board members were drawn from the list submitted by the majority shareholder, Coop Adriatica and from the list submitted by the shareholder Unicoop Tirreno, as well as from the minority list submitted by the shareholder GWM Growth Fund S.A. SICAV-RAIF.
The members of the Board of Directors appointed were: Elio Gasperoni, Claudio Albertini, Gian Maria Menabo, Luca Dondi Dall’Orologio, Sergio Lugaresi, Elisabetta Gualandri and Rossella Saoncella from the list submitted by the majority shareholder; Livia Salvini and Alessia Savino from the list submitted by Unicoop Tirreno; Eric Jean Veron and Timothy Michele Guy Santini from the minority list submitted by GWM Growth Fund S.A. SICA-RAIF. The current directors will be in office for three financial years and will remain so until the Shareholders’ Meeting which will be called for the approval of the 2020 financial statements.
It should be noted that on September 28th, 2020 Mr. Sergio Lugaresi resigned from his office of Director; for more information please read the press release.