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Italy : Resignation of a board member and co-optation of a new executive director.

TerniEnergia, a company listed on the Star segment of the Italian Stock Exchange and part of the Italeaf Group, announces that today the non-executive Director, Dr. Fabrizio Venturi, resigned from office for personal and professional reasons. The early termination of the office of Dr. Venturi will not result in the Company receiving any further indemnities.

Accepting his resignation, the Board of Directors, with Stefano Neris chairmanship, expressed heartfelt thanks to Dr. Venturi for the commitment he has shown in favour of the Company and for the contribution he made during the period in which he held the position of Director.The Board of Directors, with the favourable opinion of the Board of Statutory Auditors, resolved to appoint Dr. Paolo Allegretti as a new director of the Company by co-optation, classifying him as non-independent, in accordance with the applicable regulatory provisions. The director thus appointed, who will remain in office until the next Shareholders Meeting, on the basis of the information available to the Company, holds 7,777 shares in TerniEnergia S. p. A..

The Board then proceeded with the attribution of powers and powers to the new Executive Director. In particular, the Director Paolo Allegretti, in addition to legal representation, as per the Articles of Association, and all the powers for ordinary administration, with a limit of Euro 1 million per transaction, is granted, among others, the proxies relating to: management, through supervision, guidance and control of staff functions such as general, legal, compliance, administration and finance, planning and control, business development and quality; development and evaluation of new business and financial opportunities, ensuring analysis of the opportunities and constraints arising from changes in international and national regulations, as well as the impact of these new opportunities and the associated risks on the Groups economic and financial performance.

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Publication:Mena Report
Date:Dec 23, 2017
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