Governance

THE MANAGEMENT STRUCTURE

Panariagroup is a public company that, in 2004, joined the MTA, the leading equity market managed by the Italian Stock Exchange, being slotted in the STAR segment (STAR = Segmento Titoli Alti Requisiti, Segment for Titles with High Requirements). Its insertion in the STAR segment involved a retouching of the company’s organisation structure in accordance to the self-discipline principles imposed by Borsa Italiana S.p.A. in March 2006 and to international best practices. Panariagroup’s business structure is based on a traditional model formed by three bodies: an
Assembly, a Board of Directors and a Board of Auditors.

The shareholders’ Assembly represents all the business associates. It is the body in charge of deliberating, in ordinary and extra-ordinary meetings, on topics assigned to it by the law or by the company charter.

The Board of Auditors is in charge of monitoring matters such as the respect of the law, correct administration standards, the adequacy of the company’s organisational structure, the adequacy of the instructions provided to the various Companies within the Group in relation to the information to provide in order to comply with the reporting requirements.

The Board of Directors manages the Group and pursues the primary objective of creating value for the shareholder, actively operating to define the industrial strategies and intervening directly in every decision pertaining to the main management topics, which fall under the Board’s exclusive responsibility.

The Panariagroup Board of Directors is made up of ten members, includes both executive and non-executive directors, and oversees management and the Group’s strategic decisions. Led by the Mussini family since its establishment, it is now run by Emilio Mussini, as Chairman, and Giuliano Pini, as Executive Director.

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