Corporate Governance refers to all the rules adopted by businesses
in order to ensure that business activities are conducted in accordance to the
principles of honesty, efficiency and transparency.
Corporate Governance adopted by ANSALDO STS, was elaborated
according to the principles established by the Corporate Governance Committee
of Borsa Italiana (Preda Code), and is based on the key role of the
Board of Directors who run the corporation and pursue the
primary objective which is to create value for the shareholders, by actively
operating for achieving industrial strategies and directly intervening on the
decision-making regarding the most relevant management topics, which are of
their exclusive competence.
Commitments and ethical responsibilities that the group takes through its
directors, employees and collaborators in carrying out business dealings and
activities, are contained in the
Ethical Code adopted by the
Board of Directors which represents a pre-requisite and a reference for the
Company organizational model.
In relation to the Board of Directors, the following bodies have been
established:
- the Committe for Internal Monitoring with the task to
assist the Board in monitoring the efficiency of business operations,
reliability of financial information, observance of the laws and regulations as
well as protection of the company goods
- the Committee for Payment with the task to submit
proposals to the Board of Directors for salaries for the Managing Director and
the other directors with particular competencies and for the definition of the
payment criteria for the Company Top Management
Furthermore, the Board of Directors has adopted specific principles of
behaviour for
Operations with the Co-related Parties, has
introduced an internal procedure for transparency in handling
Confidential Information and
Privileged
Information as well as enacting a Code of Behaviour for
Internal Dealing aimed at providing information regarding the
operations on finance introduced by those who are considered "relevant"
in compliance with the above-mentioned code.
The Board of Directors, the social bodies and the company management in the
ambit of their relative competencies and responsibilities, are committed to
operating so that the
Corporate Governance system which has been
briefly outlined, be applied punctually and will be updated in accordance to
the evolution of market standards, regulations and best practices in order to
pursue the above-mentioned objectives of honesty, efficiency and
transparency.
