Terna, new course begins with Cuzzilla-Monti ticket: board of directors and committees take office
The new chairman Cuzzilla will lead the governance scenarios committee. To the minority the two control and risk and sustainability committees
Key points
The new course at Terna officially begins with Pasqualino Monti as CEO and Stefano Cuzzilla in the role of chairman. Yesterday, after the Shareholders' Meeting that formalised the renewal of the new Board of Directors, made up of 13 members (9 expressed by the majority shareholder Cdp Reti and 4 by the minorities, whose list was, as expected, the most voted by the shareholders present in the room), the first board meeting was held under the chairmanship of Cuzzilla, who entrusted operational management to Monti and defined the Chairman's delegations, but also, with a considerable acceleration on time, the composition of the endoconsiliar committees.
Give way to five endoconsiliar committees
The meeting, which went on for several hours precisely to begin designing the 'machine' at the company's top management - after the alternation with Igor De Biasio, who led the company during the transition phase brought about by the early exit of former CEO Di Foggia, who had moved to Eni - formalised the committees that will assist the board of directors, which, unlike the previous set-up, will be five and not four: control and Risk, Remuneration and Appointments, Sustainability (which was previously incorporated into the Control and Risk Committee), Governance and Scenarios and, finally, Related Party Transactions. And two out of five committees will be chaired by directors from the minority list, presented by a grouping of shareholders consisting of asset management companies and other institutional investors.
Cuzzilla chairman of the governance and scenarios committee
And here is the breakdown among the committees of the new directors who are, in addition to the top ticket, the reconfirmed Qinjing Shen, Paolo Damilano, and Gian Luca Gregori, who are also joined, again indicated by the majority shareholder, by Elisabetta Tromellini, Silvia Tossini, Antonella Faggi, and Anna Lorusso. The other four, Jean-Michel Aubertin (reconfirmed), Anna Chiara Svelto, Elena Biffi, and Leopoldo Maria Attolico, are instead drawn from the minority list. The newly appointed President Cuzzilla will chair the Governance and Scenarios Committee composed of Svelto, Biffi and Tossini.
Reappointed Aubertin as Head of the Audit and Risk Committee
Directors from Cdp Reti were also given the chairmanship of the Remuneration and Appointments Committee with Gregori (the other members are Faggi, Damilano, Attolico and Biffi) and that of the Sustainability Committee chaired by Tromellini (which also includes Cuzzilla, Tossini and Shen, the representative of Cdp Reti's Chinese partner, State Grid Corporation of China and head of State Grid's representation in Italia). The chairmanships of the control and risk and related party transactions committees went to the minorities: Aubertin will chair the former (which also includes Tromellini, Damilano, Attolico and Lorusso) and Svelto the latter (the other members are Aubertin, Gregori, Lorusso and Faggi).
