Board of Statutory Auditors

The Company bylaws provide that the Board of Statutory Auditors consists of three Standing Auditors and three Alternate Auditors.

The Board of Statutory Auditors was appointed by the Shareholders' Meeting held on May 14, 2015 for three financial years to expire at the Shareholders' Meeting called to approve the financial reports for the year ending 31 December 2017. The compensation for the standing auditors was established at 50,000 euro and for the Chairman at 75,000 euro.

Those proposing the slates made the candidates' profiles available so that the candidates' personal and professional characteristics, as well as some candidates' qualifications as independents, were made known prior to voting. The curricula vitae presented when the slates were filed were promptly published on the Governance section of, the Company website, where updated versions remain available.

The composition of the Board of Statutory Auditors:

Chairman Francesco Fallacara (*)
Standing auditors Fabio Artoni (**)
  Antonella Carù (**)
Alternate auditors Fabio Facchini (**)
  Andrea Lorenzatti (*)
  Giovanna Oddo (**)

(*) Chosen from the minority list (for 29.99% represented at the shareholders meeting) presented by a group of fund managers and financial intermediaries.
(**) Chosen from the majority list (for 52.97% represented at the shareholders meeting) presented by Camfin and its subsidiary Cam 2012.

Last Revised: 14 May 2015