Corporate governance system

Enel's corporate governance rules constitute an essential instrument to ensure an efficient and successful management and a reliable control tool of the activities carried out by the company, aiming at the creation of value for shareholders.

Enel rules, which are set forth in compliance with Italian laws and regulations, are inspired by the principles of transparency and fairness. Further, such rules are in line with the recommendations contained in the Corporate Governance Code for listed companies and with international best practices.
Enel provides to the public on a yearly basis a detailed report on its set of Corporate Governance rules ("Corporate Governance and Share Ownership Report"), published jointly with the annual financial statements.

According to Enel's model, the Shareholders Meeting has the function to adopt the most relevant decisions concerning the company, such as the appointment of the corporate bodies, the approval of the annual financial statements and the allocation of net income.

The Board of Directors is entrusted with the management of the Company and carries out all the activities appropriate for the achievement of the corporate purpose. In accordance with the Italian Civil Code, the Board of Directors delegated part of its managing powers to the Chief Executive Officer and appointed four internal Committees with consultative and proactive functions. Whilst both the Chief Executive Officer Executive and the Chairman may act on behalf of the Company, their roles are clearly separated.

The Board of Statutory Auditors is responsible, among other things, for supervising the Company's compliance with the law and bylaws, as well as the observance of correct management principles in the carrying out of the Company's activities.

 

Last update: April 19, 2016

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