WAMGROUP S.p.A. has adopted a traditional form of administration and control:

• company management is assigned to the Board of Directors (BoD);
• supervisory functions are assigned to the Board of Statutory Auditors;
• the statutory auditing of the accounts as well as auditing are assigned to a Single Auditor.

WAMGROUP S.p.A. exercises management and coordination activities pursuant to Article 2497 of the Italian Civil Code in respect of its Italian subsidiaries, which maintain legal autonomy and apply the principles of proper corporate and entrepreneurial management.

The WAMGROUP Board of Directors is responsible:

• for supervising and directing the company’s activities; board members play a key role in making strategic decisions, defining the company’s mission, and monitoring company performance;
• for making important decisions, such as approving strategic development plans, allocating resources, appointing and supervising management, and managing business risks; the board has an obligation to act in the interests of the shareholders and to ensure compliance with regulations and corporate guidelines;
• meeting regularly to discuss and make decisions on company matters; during these meetings, topics such as financial performance, growth strategies, recruitment policies, investments and regulatory issues are discussed.

The Board of Directors plays a central role in the corporate governance of WAMGROUP S.p.A., with broad powers and competences in governance, internal control system and risk management, as well as in the definition of sustainability policies with the aim of pursuing sustainable success through the creation of long-term value for the benefit of its shareholders and stakeholders. In this context, the Board of Directors, assisted by the Sustainability Steering Committee (SSC), actively contributes to the assessment and management of sustainability issues.