The Remuneration and Appointments Committee, established for the first time in 2003, has the task of examining and approving the general and operational guidelines for the remuneration of directors and executives and making proposals to the Board of Directors for the remuneration of executive directors and those who perform special functions.
On 20th December, 2016 the Board of Directors resolved to extend the functions of the Remuneration Committee to Board of Director composition rules about the holding and the subsidiaries companies, to independent directors replacement and co-optation, directors exceptions to the competition restriction and succession plans adoption.
The Remuneration and Appointments Committee is composed of three non-executive members of the Board of Directors.
Currently, the Remuneration and Appointments Committee consists of the following Directors:
- Franco D'Alfonso
- Rosario Mazza
- Luciana Sara Rovelli
The Director who chairs the Remuneration and Appointments Committee is Rosario Mazza.
Meetings of the Committee are attended by the Chairman of the Board of Statutory Auditors or another Statutory Auditor.
The composition, functioning, organisation and activities of the Remuneration and Appointments Committee are governed by specific regulations approved by the Board of Directors on 30 October 2003 and amended lastly after the Board resolution taken on 20th December 2019.
On 31 May 2022, the Board of Directors resolved to grant the Chairman of the Remuneration and Appointments Committee a gross annual remuneration amounting to Euro 20.000 and other members of the Committee a gross annual remuneration amounting to Euro 10.000 each.