Board of Directors Meetings

The Directors gather regularly and carry out tasks based on their full knowledge and in autonomy, pursuing the objective of creating value for shareholders, taking into account the social aspects of the Group’s activities and the resulting need to adequately consider all stakeholders in the performance of those activities.

During 2011, the Board met ten times and each meeting lasted an average of one hour and twenty minutes with the Directors regularly participating as well as the Board of Statutory Auditors (Article 1.C.1, lett h) of the Governance Code).
Due to the renewal of the Board of Directors (May 13, 2011), the first three meetings were carried out by the outgoing members and the subsequent meetings were carried out by the newly appointed members.

For 2012, a Board meeting is expected every month and all the meetings have been scheduled relative to the examination of the economic and financial data by the Board of Directors according to what officially communicated to the market on January 16 and February 6, 2012. In the current year and as of the date of approval of the present Report, the Board of Directors met three times.