Rome, May 23rd, 2014 The Board of Directors of Enel SpA, elected by the Shareholders Meeting on May 22nd, met today for the first time in Rome under the chairmanship of Patrizia Grieco.
The Board appointed Francesco Starace to serve as Chief Executive Officer and General Manager of the Company.
The Board also approved the delegation of powers, designating the Chairwoman, Patrizia Grieco, to supervise audit activities (although the head of that function continues to report hierarchically to the Board of Directors), to drive and oversee the application of corporate governance rules concerning the running of the Board of Directors, and to maintain, in agreement and coordination with the CEO, relations with institutional bodies and authorities. In keeping with previous arrangements, the CEO was granted all powers for the management of the Company, except for those otherwise assigned by applicable laws and regulations, the by-laws or retained by the Board of Directors within the scope of its responsibilities.
Furthermore, the Board verified that the Directors Alessandro Banchi, Alberto Bianchi, Paola Girdinio, Salvatore Mancuso, Alberto Pera, Anna Chiara Svelto and Angelo Taraborrelli meet the independence requirements set out both in the Unified Financial Act and in the Corporate Governance Code. It was also verified that Patrizia Grieco meet the independence requirements established by the Unified Financial Act, while the Corporate Governance Code provides that the Chairman of the Board of Directors, as a significant representative of the Company, cannot be deemed independent.
In conducting the assessment of the independence of its members, the Board noted the none of the aforesaid Directors has or had in the preceding fiscal year, directly or indirectly, any significant relationship of a commercial, financial or professional nature with the companies of the Enel Group.
Finally, the Board will form its various internal committees at an upcoming meeting.
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From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.