The Board of Directors held on 27 April 2016 has appointed for the three-year period 2016-2018, namely up to approval of the company financial statement at 31 December 2018, the Remuneration Committee composed of 3 members:
Andrea Pellegrini (Chairman)
Luigi Alfieri (Member)
Vittoria Giustiniani (Member)
The Operating Rules of the Remuneration Committee allows the Committee to perform the following functions:
- puts forward proposals to the Board of Directors on the policy for remuneration of directors and key management personnel (*);
- puts forward proposals to the Board of Directors on the policy for remuneration of all top management of the Group, including both monetary and share-based, short and long term incentive schemes.
- periodically assesses the adequacy of the overall consistency and practical application of the policy for remuneration of directors and key management personnel, using for the latter purpose information provided by the Managing Director;
- presents proposals or issues opinions to the Board of Directors on the remuneration of executive directors and other directors holding specific offices, as well as on establishing performance targets for the variable remuneration component;
- monitors the implementation of decisions taken by the Board itself, verifying, in particular, the actual achievement of performance targets;
- examines in advance the annual remuneration report which listed companies are required to prepare and make available to the public before the annual shareholders meeting pursuant to art. 2364, paragraph 2 of the Civil Code, in accordance with applicable regulatory requirements.
* Key Management Personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the company, directly or indirectly, including any director (whether executive or otherwise) of that company.