Governance

Board of statutory auditors

Pursuant to the Deed of Incorporation, the Board of Statutory Auditors comprises three statutory auditors and three alternate auditors. The Board was appointed by the Shareholders' Meeting of 30 April 2018 for the 2018/2020three-year period.

The entire Board of Statutory Auditors was appointed on the basis of the only list submitted to the Shareholders’ Meeting, presented by the majority shareholder, i.e. Cascades Inc.

 

The statutory auditors remain in office for 3 financial years and may be re-elected.

Composition and Requirements.

 

All statutory auditors must possess the qualifications required by current legal and regulatory provisions.

In particular, the individuals who fall within the context of the conditions referred to in art. 148 paragraph 3 of Legislative Decree no. 58/1998 are no eligible. Furthermore, pursuant to Ministerial Decree no. 162 of 30 March 2000, at least one statutory auditor must be registered in the Register of Statutory Auditors established pursuant to the law and had to have exercised the activity of legal audit of the accounts for a period of not less than three years.

 

With regard to the methods and procedure for such appointment, through the list voting system, see Article 19 of the Articles of Association.