Last update: July 5, 2010

Board of directors’ committees

In order to efficiently perform its duties, the board has set up two internal committees: the remuneration committee and the internal audit committee. Snam Rete Gas has not set up an appointment committee as required by the Code of Conduct for Listed Companies as the directors are appointed by the shareholders during their meetings using lists presented by themselves. They perform a preliminary selection of candidates and check that they meet the reputation and professional requirements set by the law and bylaws.


Compensation Committee

Established within the Board of Directors is the Compensation Committee in charge of:

  • submitting proposals as to fixed and floating compensation of the Chairman and of the Managing Director, included any quota in share incentive plans;
  • examining Managing Director's indications and suggesting:
    • share incentive plans;
    • principles applying to top management compensation;
    • objectives and assessment of the results of the performance plans, in relation to identification of the floating compensation of the Directors with powers and to implementation of the share incentive plans.

Audit Committee

The board of directors has set up an internal control committee. Its scope is to advise the board about supervisory issues related to the company’s management. The board of directors ascertained that all the committee members have the necessary accounting and financial expertise.

The committee regulation sets out its duties and modus operanda.
Specifically, it:

  • assists the board of directors with managing and checking the adequacy and working of internal controls and risk management system;
  • assesses the activities of the manager in charge of internal control;
  • monitors the correct application of the accounting policies used and their consistency when preparing the consolidated financial statements with the assistance of the manager in charge of preparing the financial reporting and the independent auditors;
  • assesses the recommendations made by the independent auditors, their audit plan and related findings and any recommendations made in their management letter;
  • reports to the board of directors at least once every six months on its activities and the adequacy of the internal control system

Documents Select all
Regulation of the Compensation Committee
Audit Committee Regulation