ACEA S.p.A. Announces Board and Committee Appointments
June 20, 2018
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The Board of Directors of ACEA S.p.A. resolved to appoint director Michaela Castelli as Chairperson of the Board of Directors. The Board of Directors also set up an Executive Committee pursuant to Article 2381 of the Italian Civil Code and Article 20, paragraph 1, of the company's Articles of Association, comprising Giovanni Giani (Chairman), Michaela Castelli, Stefano Antonio Donnarumma and Massimiliano Capece Minutolo del Sasso, which will deal with matters pertaining to institutional sponsorships and relations. Following her appointment as Chairperson, the Board of Directors established that the independence requirements set forth by the Corporate Governance Code, with regard to Michaela Castelli, no longer existed. Without prejudice to the composition of existing board committees, the Board of Directors also appointed as replacement for Michaela Castelli: Liliana Godino, independent director, as Chairperson of the Acea Risk and Control Committee; Gabriella Chiellino, independent director, as member of the Related Parties Committee.
ACEA SpA is an Italy-based company engaged in the utility sector. The Company focuses on the production, sale and distribution of energy as well as environmental and water services. It operates through five segments. The Water segment collects, purchases, transports and distributes drinking water, and manages the sewerage system and the purification of wastewaters. The Energy segment manages the transmission and distribution of energy. The Networks segment includes its own aqueducts and networks managing the entire water cycle. The Environment segment provides laboratory, research and related consultancy services on the environment and control functions within the water cycle. The Other Services segment refers to design and management of the public lighting system for roads, museums, monuments and archeological sites. It operates mainly in Rome and other municipalities in Lazio. As of December 31, 2013, the Companyâs major shareholder was Comune di Roma.