Corporate Governance and Regulatory Compliance

The organizational and governance structure of the Group has evolved over time in keeping with its global development.

After the entry onto the “Mercato Telematico Azionario” (MTA) of the Italian Stock Exchange in November 2018, the SIT Group gradually consolidated its own corporate governance system with roles, responsibilities and committees defined in procedures and policies, as required by legislation applicable to listed companies.

SIT S.p.A.’s Corporate Governance System comprises the following corporate boards:

  • the Board of Directors, appointed by the Shareholders’ Meeting, plays a fundamental role in setting and pursuing the Company’s and Group’s strategic objectives;
  • the Board of Statutory Auditors, also appointed by the Shareholders’ Meeting, performs a supervisory role.
  • the Shareholders’ Meeting considers motions on the matters reserved to it in accordance with law and the By-Laws.

The audit of accounts was awarded to an independent audit firm, appointed by the Shareholders’ Meeting on the reasoned opinion of the Board of Statutory Auditors.

Furthermore, on 26 July 2021, the Board of Directors of SIT S.p.A, demonstrating its commitment to the pursuit of sustainable success, by collecting the Company’s requests regarding the need for an accurate and systematic management of ESG issues, resolved on the creation a Governance structure dedicated to sustainability issues, composed as follows:

• Corporate Sustainability Director, a Director with specific powers in the ESG area with the responsibility of coordinating the Group’s Sustainability Plan, the related policies and improvement objectives as well as promoting engagement and communication with stakeholders;

• Sustainability Steering Committee, a multifunctional management committee, led by the Corporate Sustainability Director, responsible for the definition and implementation of the Sustainability Plan and the achievement of the objectives pursued, also in relation to the Non-Financial Statement (NFS);

• Sustainability Officer & Corporate Team: a working group, chaired by the Sustainability Officer, composed of resources with specific skills in the ESG field, able to implement the operational actions envisaged in the Sustainability Plan and to report the results, also in relation to the NFS, contributing to the spread of the “culture of sustainability”.

• Sustainability Local Units: specialized units, spread throughout the organization at an international level, which represent the reference points for issues and the dissemination of ESG culture.

For further details, see the dedicated chapter in the non-financial statement