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Related Parties Committee

04/08/2019 - 04:30 PM

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Lucia Morselli

Chairwoman

 

Maria_Elena_Cappello

Maria Elena Cappello

 

 

The Committee is made up of independent directors, with at least one (or respectively 2 or 3 if the Committee is made of 5 or 7 or more members) from the slate ranking second by number of votes in the Shareholders' Meeting that appointed the Board of Directors in office.

The Committee (whose meetings are attended by the Chair of the Board of Statutory Auditors or any other Auditor delegated by said Chair, without prejudice to the possibility for all Statutory Auditors to attend) can access the information and company departments necessary to carry out its tasks, making use of the Company units; in accordance with the Related Party Procedure in force, it is supported by the Group Compliance Officer who governs its responsibilities and activities. The Committee was not assigned financial resources of a predetermined amount, but was able autonomously to bring in external consultants.

The Committee is responsible for issuing an opinion on minor and major related party transactions.

Following its constitution (May 16, 2018), it met 9 times: the first time for internal organizational and planning purposes, 6 times as per the predefined calendar (for an average meeting duration of about 1 hour and 45 minutes) and twice for unforeseen events / needs, for the regular operation of the company (for an average meeting duration of about 30 minutes), with an attendance rate of 100%. 

In its early months of activity, the Committee examined and expressed a favorable opinion on the related party procedure; it monitored its implementation status, following approval by the Board of Directors; it examined and issued an opinion on specific related party transactions; it verified the quarterly reports prepared by the Group Compliance Officer, as per the procedure.

Telecom Italia Shareholders' Meeting held on May 4, 2017 appointed the Board of Directors which established on May 16, 2018 the internal committees.

On May 16, 2018 the Board of Directors has formed a new internal committee focusing on the investigation and monitoring of interactions with related parties.

 

For further information, please contact:
Telecom Italia S.p.A.
Corso d’Italia n. 41
00198 Roma
Ph. +39.06.36881
Email: corporate.affairs@telecomitalia.it