The Corporate Governance defines the system and regulations for management and control into the Group.
Integrity and transparency are the principles that NOVOMATIC Italia follows in defining its own system of Corporate Governance, which is expressed on the basis of the general regulations, the Articles of Association, the Code of Ethics, the internal standards and the best practices on the matter.
The Company adopts the traditional system of administration and control, which sees the company management entrusted to the Board of Directors, and the function of oversight over correct administration practice to the Board of Auditors. The legal audit of accounts is assigned to an auditing firm. The shareholder's meeting is tasked with making the decisions most significant for the life of the company, amongst other matters, nominating the corporate bodies, approving the balance sheet and amending the Articles of Association.
The Board has delegated part of its management duties to the Managing Director, and other mandated advisors, limiting the signing of deeds and legal transactions to the principle of the double signature. The roles of the Directors are strictly separate and different powers apply to them.
The Company has adopted an Organisational, Management and Control Model pursuant to article 6 of Legislative Decree 231/01, aimed, amongst other things, at ensuring conditions of correctness and transparency in the conduct of company activities, and has consequently appointed the respective Supervisory Boards.
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