Board of Statutory Auditors

As of today, the Board of Statutory Auditors is composed of five statutory auditors and two alternate auditors with a three‐year term of office expiring on the date of the shareholders’ meeting called to approve the financial statements in their last year of office; they can be re‐elected.

On 06 May 2021, the Shareholders appointed the members of the Board of Statutory Auditors; their term expires upon approval of these 2023 financial statements.

The composition is as follows:

Office Name and Surname Place of birth Date of birth
Chairperson Michele Rutigliano Milan 06 October 1953
Standing Auditor Cristina Chiantia Turin 07 May 1975
Standing Auditor Simone Caprari Reggio Emilia 10 January 1975
Standing Auditor Ugo Ballerini Pisa 28 October 1947
Standing Auditor Sonia Ferrero Turin 19 January 1971
Alternate Auditor Lucia Tacchino Genoa 18 April 1979
Alternate Auditor Fabrizio Riccardo Di Giusto Collevecchio (RI) 20 June 1966

Arts 27 et seq. of the Articles of Association, to which reference should be made, establish list voting as the method for appointing the Board of Statutory Auditors.

The members of the Board of Statutory Auditors attend the shareholders’ meetings and meetings of the Board of Directors. The presence of at least one member of the Board of Statutory Auditors at Board of Directors’ meetings ensures that the Board of Statutory Auditors remains informed of activities conducted by the parent and on the transactions of greatest economic, financial and equity significance performed by the parent and its subsidiaries, particularly transactions in which the directors have an interest.

As indicated above, in accordance with the indications of the Code, the meetings of the Committees set up within the Board of Directors held during the 2021, were attended by the Chairperson of the Board of Statutory Auditors and/or another/other statutory auditor(s) designated by the latter.

In carrying out its supervisory activities on the adequacy of the internal control and risk management system, the Board of Statutory Auditors has established an information flow with the Internal Audit Unit and the Risk Management Department of the Parent.

Furthermore, in its capacity as the "Internal Control and Risk Management Committee" and in coordination with the Parent's Administration, Finance and Control Department, the Board of Statutory Auditors monitored, inter alia, (i) the financial reporting process, (ii) the statutory audit of the Parent's Separate Financial Statements and of the Consolidated Financial Statements, and (iii) the verification of the independence of the Independent Auditors.

In 2021, the Board of Statutory Auditors held 18 meetings. The outcome of the supervisory activities of the Board of Statutory Auditors in office during the year, starting from its appointment, is shown in the report to the Shareholders' Meeting prepared pursuant to Article 153 of the Consolidated Law on Finance and annexed to these financial statements.