Our Governance

Our Governance System follows a series of principles, rules and procedures according to the criteria established by the Corporate Governance Code of Self for listed companies promoted by Borsa Italiana (Italian Stock Exchange), adopted by us since 2001. The system is also inspired by the recommendations of the Italian Commission for Companies (CONSOB) and the Stock Exchange, as well as international best practices.

Our corporate governance system essentially aims to create medium-long term value for our shareholders, bearing in mind the social importance of our operations and the need to duly consider all the interests involved. 

The Acea Spa Board of Directors defines the strategic guidelines for the group and is responsible for corporate governance. As recommended by the Corporate Governance Code, the parent company BoD has set up three Committees, each with a proactive, advisory role:

  • Control and Risks Committee
  • Appointments and Remuneration Committee
  • Ethics and Sustainability Committee

The Executive Committee was established with a board decision on 21 June 2018 and consists of Giovanni Giani (committee Chairman), Massimiliano Capece Minutolo Del Sasso, Michaela Castelli and Stefano Antonio Donnarumma. The committee has been granted powers regarding sponsorships and institutional relations.

In accordance with CONSOB requirements, the Committee for Related Party Transactions, is composed exclusively of independent directors, who have been granted investigative, proactive and advisory powers to assess and decide on related-party transactions.  

The Board of Statutory Auditors monitors regulatory compliance and oversee the group's correct administration.

The Annual General Meeting appoints the Board of Directors and the Board of Statutory Auditors using the vote by slate system. Each year, it approves the annual financial statements and, if necessary, is convened in extraordinary session for any resolutions within its sphere of competence according to law and the Articles of Association.

Governance report

The 2018 Report on Corporate Governance and Ownership Structures  contains information on Acea's Corporate Governance system and observance of the recommendations set out in the Corporate Governance Code for listed companies issued by Borsa Italiana. The report is updated at least once a year.

Articles of Association

The current Articles of Association were approved by the Board of Directors on 24 January 2013. The Articles of Association establish the company name, head office, duration and the company's corporate purpose, its share capital, the characteristics of shares and debentures and the corporate bodies.  

Regulated information and storage mechanisms

To disseminate and store Regulated Information, Acea SpA has chosen to use SISTEMA 1INFO, managed by Computershare SpA, with head office in via Lorenzo Mascheroni 19, Milan, authorised by Consob.

Sistema 1info