Lead Independent Director

Since November 2005, in order to add  further value to the role of the ten Independent Directors, the position of Lead Independent Director has been brought in by resolution of the Board of Directors.

The Lead Independent Director (namely, Mr. Carlo Secchi, Chairman of the Committee for Internal Control and Corporate Governance, who was appointed to the said position) stands as reference point and coordinator of any requirement and contribution by the Independent Directors.

The Lead Independent Director has also the power to call – either on his own initiative or upon Directors' request - dedicated meetings for independent Directors only, and their subject matters are chosen every time among key issues relating to Board of Directors functions or Company management.

Last but not least, the Lead Independent Director co-works with the Chairman of the Board of Directors, thus enhancing Board performance.