In accordance with article 524bis of the Code of Companies the executive management of the Company is entrusted to the executive committee chaired by the CEO. The members of the executive committee are appointed by the Board of Directors.
The executive committee is empowered to take responsibility for the daily operations of the Group and the implementation of the policy and strategy articulated by the Board of Directors. Its powers are further discribed in detail in Chapter 1, section 12 of the Corporate Governance Charter. The executive committee reports to the Board of Directors through the CEO, enabling the Board of Directors to exercise control. The members of the executive committee are in constant dialogue. The committee may decide on the frequency of its formal meetings.