Corporate Governance Corporate Governance
is the body of rules and procedures for
decision-making, control and supervision of business activities.
Corporate Governance tackles the following issues:
- Strategic planning - role, operation and composition of the board of directors
- Internal organization - objectives and concrete applications of controls
- Relations between the company and the shareholders - procedures adopted to share relevant information
Eurotech is organized according to a standard model. Its governing units are the shareholder meeting
, the board of directors
and the board of auditors
. The auditing of accounts is entrusted to a specialized firm appointed at the shareholder meeting.
The board of directors is appointed by the shareholders and has a central role in the company's organization. It defines the company's guidelines and assumes responsibility for future strategies and organizational changes. It verifies the accuracy and reliability of controls, and supervises the operations of all the companies in the Eurotech Group.
Within the board of directors, two committees have been appointed to provide
the most accurate examination of relevant aspects of the group's activities.
It is composed of three independent non-executive board members, and makes proposals concerning the remuneration of the President, the Vice-Presidents and the managing directors.
Internal control committee
It is composed of three independent non-executive board members, and tackles issues related to controlling and monitoring the company's activities.
The auditing is performed by:
A board of auditors
, composed of three appointed auditors and two
deputy auditors, which verifies the observance of the law and of the company's by-laws, the respect of the principles of correct administration, the adequacy of the company's internal control structure and the working of the accounting department.
An auditing firm
, appointed by the shareholders, which audits
the company's accounting, including annual balance sheets, consolidated balance sheets, half-yearly reports and consolidated half-yearly reports.