Corporate Governance

Terna’s governance structure is based on the traditional model of accounting and control and conforms to the provisions of Italian law regarding listed companies.  

Terna also observes the Self-regulation Code of listed companies, which Borsa Italiana published in March 2006. In 2007, the Company carried out the adjustments in its Corporate Governance system necessary to comply with the commitments provided for by the Code.

Therefore, the Company’s Corporate Governance system is in line with the principles contained in the Self-regulation Code, the relevant recommendations put forward by the CONSOB, and, in general, the best practices found at the international level.

This Corporate Governance model aims to create value for our shareholders, while reflecting awareness of the social significance of the Group’s activities and the necessity of appropriately considering all the interests involved when carrying them out.

The task of managing the Company is entrusted to the Board of Directors, which is elected by the shareholders at their  meeting. The Board of Directors is responsible for establishing the strategic and organisational guidelines of the Company and the Group, as well as for ensuring that the controls necessary for monitoring the performance of the Company and its subsidiaries are in place.

The incumbent Board was elected on April 28, 2008 and consists of nine members.

Board of Directors (in office since April 28, 2008)

 

Office Members               ExecutiveNon
executive
Indipendent(*)Internal Contol
Committee
Compensation
Commitee
Chairman
Luigi Roth X  X
CEO
Flavio CattaneoX    
Director Cristiano Cannarsa X   
Director Paolo Dal Pino XXXX
Director Matteo Del Fante X X 
Director Claudio Machetti X   
Director Salvatore Machì XXXX
Director Michele Polo XXX 
Director Vittorio Rispoli XX X

Further information on Terna’s governance is available in the: Governance Report, which was approved by the Board of Directors on March 11, 2009