Three specialized committees have been formed to assist the Board with its duties and works. The composition of the committees and the choice of their respective chair are decided by the Board of Directors, upon recommendation of the Governance and Compensation Committee. The committee chairs report on the work and recommendation of their respective committee during the meetings of the Board of Directors.
AUDIT AND RISKS COMMITTEE
- monitoring issues relating to the preparation and audit of the financial statements and financial information;
- selection and monitoring of the Statutory Auditors’ performance;
- monitoring the effectiveness of internal control and audit systems and procedures;
- monitoring the effectiveness of systems and procedures assessing the risks of the Group;
- examining the financial and extra-financial communication policy of the Company;
- ensuring that shareholders and investors are provided with relevant, balanced and comprehensive information ;
- monitoring the financial trajectory associated with the Group’s medium and long-term strategy.
GOVERNANCE AND COMPENSATION COMMITTEE
- selection of directors and composition of Committees;
- preparation of the succession plan for the senior executive officers;
- ensures proper operation of the Board and of the governing bodies and compliance with corporate governance rules;
- recommendations to the Board on the compensation of senior executive officers and directors;
- promotion of ethical behavior and overseeing the proper dissemination and application of the related principles and rules within the Group.
STRATEGY AND CSR COMMITTEE
- review of the Group’s medium and long-term strategy as well as of its relationship with the Alliance;
- review of the strategy and of actions to be implemented in terms of environmental, social and corporate responsibility of the Company, as well as sustainable development;
- ensuring the preparation of extra-financial information in accordance with regulatory and legal requirements and examining the extra-financial communication policy;
- ensuring a review of extra-financial ratings;
- review, at the industrial level, of mergers, acquisitions, disposals, joint-ventures and strategic and partnership agreements that have a material impact on the strategy of the Group;
- review of the strategy as regards product and technology development;
- examining the competitiveness of production sites and of their supplier base;
- review of the Group’s geographical presence strategy.