In accordance with the recommendations of the Code of Conduct, SAVE has set up an Audit and Risk Committee and a Remuneration Committee, both composed of 3 members.
Taking account of the relevant statutory provisions, the Board of Directors of SAVE has decided not to set up an internal Nominations Committee.
In accordance with the provisions of the Code of Conduct, the SAVE Audit and Risk Committee has a consultative and advisory role to the Board of Directors, with particular reference to the following aspects:
The Company’s Audit and Risk Committee also performs the duties assigned to it under the Rules for related party transactions adopted by the Board of Directors in keeping with the applicable CONSOB regulations.
AUDIT AND RISK COMMITTEE CURRENTLY CONSISTS OF THE FOLLOWING BOARD MEMBERS:
In 2005, the Board of Directors set up a Remuneration Committee with a consultative and advisory role on the following main issues:
remuneration of managing directors and other directors holding special positions at SAVE and its subsidiaries;
objectives and results of performance plans for variable remuneration of managing directors or directors holding special positions at SAVE and its subsidiaries;
criteria for determining the remuneration of SAVE senior management;
THE REMUNERATION COMMITTEE CURRENTLY CONSISTS OF THE FOLLOWING BOARD MEMBERS:
* Independent board member
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