The management and control model

MAG’s governance model is traditional, i.e., it features:

• shareholders’ meetings, held as ordinary and extraordinary meetings and called to pass resolutions in accordance with the law and by-laws;
• the board of directors, appointed to perform administration and company management;
• the board of statutory auditors, required to oversee: (i) compliance with the law and deed of incorporation and with the principles of correct administration in the performance of company activities; (ii) the adequacy of the company’s organisational system, the internal control system and the administration/accounting system, (iii) the ways in which corporate governance is actually implemented, (iv) risk management, (v) the statutory audit and the independent auditors’ independence.

MAG has opted to adopt a traditional administrative and control model, as it is the most prevalent in the group’s history and more in line with its business context than other alternative models based on other systems.

The parent has voluntarily adopted a system of criteria and principles that integrate its administration and control system, based on the code of conduct that Borsa Italiana S.p.A. issued in 2018 for listed companies.