Executive in charge of drafting the company accounts documents

The Articles of Association give the Board of Directors, after receiving the opinion of the Board of statutory Auditors, the power to appoint the Executive in charge, stating that the term of same, unless revoked by just cause, runs simultaneous to that of the Board of Directors that appointed him/her.  The Executive in charge must be an expert in the field of management and control and satisfy the integrity requirements established for directors.

The Board of Directors, at its meeting of 12 June 2014, confirmed the Executive in charge as Chief Financial Officer Francesco Tanzi, granting him every power of an organisational and management nature necessary for carrying out the assigned duties, with full autonomy of expenditure. 

The Board of Directors ensures that the Executive in charge has adequate means and powers to perform the duties assigned, as well as for compliance with the administrative and accounting procedures.

To that end, the Executive in charge reports, at least once a year, to the Board of Directors or via the ARSCGC, and, to the extent applicable, to the Board of Statutory Auditors.

The Executive in charge reports, without delay, to the delegated administrative body, to the Board of Directors on any matters he believes to be of significant relevance, and if these are not corrected, they must be declared in the report provided for by  Article 154-bis of the CFA.

The Executive in charge attends meetings of the Board of Directors wherein the agenda includes the examination of economic-financial data, and has direct access to all of the information necessary for producing the accounting data, without need for any authorisation. The Executive in charge is also aware of internal flows for accounting purposes, and approves all of the company’s procedures that have an impact on the economic and financial position of the Company.