The role of the Board of Directors is to define the strategic guidelines that must be followed by the Company and the Group under the Company’s control and is responsible for governing its business operations. Accordingly, it enjoys the most ample powers to carry out all actions, including acts of disposition, that it may deem useful for the furtherance of the corporate purpose, the sole exception being those that the law expressly and exclusively reserves for the Shareholders’ Meeting.
The Board of Directors is responsible for managing the Company directly or by delegating some of its attribution to other governance bodies.
In order to strengthen its management function, a series of decisions concerning highly significant issues and transactions were reserved for the Board of Directors, in addition to the powers attributed to it pursuant to law and the Bylaws, and consequently cannot be delegated to executive Directors.