Milan, 17 June 2014 – Earlier today, the A2A S.p.A. Board of Directors held its first meeting under the chairmanship of Giovanni Valotti.
The Board appointed Luca Valerio Camerano as Chief Executive Officer, vesting him with broad powers for the Company’s ordinary operation.
The Board acknowledged to the Chairman distinctive responsibilities with regard to relationships with the shareholders, institutions, regulatory authorities, the media, and external relations and, in coordination with the Chief Executive Officer, with regard to the preparation of proposals entailing non-recurring transactions.
The Board of Directors has appointed the Executive Committee made up of three members: Chairman Giovanni Valotti, Vice Chairman Giovanni Comboni, without delegation of authority, and Chief Executive Officer Luca Valerio Camerano. The Committee mainly has the role of providing consultative input in the coordination of the executive directors’ activity, and preparing proposals for the Board of Directors.
This detailed framework clearly defines responsibilities, facilitates effective and timely decision making, provides for a balance of powers, and emphasizes the central role of the Board of Directors in the Company’s management, and in particular, in defining and pursuing strategic objectives.
Moreover, during the meeting, the Board assessed the existence of the requisites of independence (Article 148, Paragraph 3 of the Consolidated Financial Act) for all directors and statutory auditors, and the existence of the requisites of independence (Article 3 of the Corporate Governance Code) for the directors Giovanni Comboni – Vice Chairman, Antonio Bonomo, Stefano Cao, Michaela Castelli, Elisabetta Ceretti, Mario Cocchi, Luigi De Paoli, Stefano Pareglio and Dina Ravera, and the statutory auditors Giacinto Sarubbi – Chairman, Cristina Casadio and Norberto Rosini.
Finally, the Board of Directors appointed the following three committees – instead of the previous fours - indicating their members, in particular:
Public disclosure obligations provided by CONSOB Resolution n. 11971 of 14 May 1999 and subsequent amendments