Corporate Governance : Accountability of the Board of the Directors

    Structure of the Board of Directors

    The election of the Company’s directors is held in accordance with the resolution at shareholders’ meetings and based on the criteria and legal procedure and the Company’s Articles of Association. Each director holds a 3-year term and each year the 3 longest-serving directors shall retire by rotation so that there will be the election of new directors every year. On December 31, 2021, the Board of Directors consists of 9 members:

    Directors who are member of the Executive Committee 4
    Directors who are not member of the Executive Committee 2
    Independent directors 3