Lead Independent Director ("L.I.D")

In line with the recommendations of the Self-Regulation Code and, also, in order to further enhance the role of the independent directors, the Board of Directors confirmed the LID (this has been, since the changes in the Board, Luigi Roth5). He is the point of reference and coordination for requests and contributions from the independent directors.

In his capacity as L.I.D., he:

  • collaborates with the Chairman of the Board of Directors to achieve the best functioning of the Board;
  • has the power to convene, independently or at the request of other directors, meetings - even informal ones - of the independent directors only on topics related to the operation of the Board of Directors, in particular, and the system of corporate governance more generally, with the further option of inviting members of management to discuss the organisational structure;
  • works with the Chairman of the Board of Directors to ensure that the Directors receive adequate information in a timely manner.

The LID, in the exercise of his powers, may count on the cooperation of the Secretary of the Board of Directors.

The L.I.D. has been in constant contact with the Chairman of the Board of Directors in order to achieve an ongoing improvement in reporting to the Board.

5Up to 12 June 2014, the Lead Independent Director was Prof. Carlo Secchi.