FRONTIERS OF CORPORATE GOVERNANCE

October 26, 2011

Just concluded the workshop presenting the results of the Observatory on Corporate Governance Excellence in Italy. During the event, ample space was given the role of institutional investors and from the analysis carried out, it emerged that improved quality in corporate governance could represent an important factor in increasing (or at least not reducing) attractiveness for these operators.

An up-to-date picture was also provided regarding the compensation structure for top management in leading quoted companies, as well as the state of health of their respective governance systems through the results of the ESG Index (Indice dell’Eccellenza del Sistema di Governo – Index of Governance System Excellence). The situation revealed by the sampling of FTSE MIB companies showed wide margins for improvement.

Finally, in the wake of major attention from the institutions and business community regarding the issue of transparency in communicating the remuneration systems adopted, a proposal for what to include in a potential Remuneration Report for quoted companies was presented, an issue at the center of CONSOB consultations.

Speaking at the event were members of the Observatory Scientific Committee:

• Stefano Preda, Professor of Financial Systems Analysis, Politecnico di Milano;
• Piergaetano Marchetti, President, RCS Media Group; Professor of Commercial Law and Dean of Faculty Organizational Structure and Academic Governance at the Università “L. Bocconi”, Milan;
• Sergio Erede, Senior Partner - Studio Legale Bonelli Erede Pappalardo;
• Valerio De Molli, Managing Partner, The European House - Ambrosetti.

The workshop concluded with remarks by CONSOB Commissioner Luca Enriques on the findings of the Observatory and its proposals.
The workshop was moderated by Daniele Manca, Vice-Editor of Il Corriere della Sera.

For more information about the "Observatory on Corporate Governance Excellence in Italy", please contact: Valerio De Molli (tel.+39 02-46753.298; e-mail: valerio.de.molli@ambrosetti.eu).