(Alliance News) - Piaggio& C. Spa announced Wednesday that the shareholders' meeting approved a "one-tier" administration and control model, characterized by the presence of a board of directors, which is responsible for the management function, and a management control committee, set up within the board, with control functions.

The assembly also appointed the new board of directors by approving the proposal submitted by shareholder Immsi Spa to determine the number of its members at 12.

Thus, the new board of directors includes Matteo Colaninno, Michele Colaninno, Alessandro Lai, Graziano Gianmichele Visentin, Carlo Zanetti, Andrea Formica, Ugo Ottaviano Zanello, Micaela Vescia, Paola Mignani, Patrizia Albano, Rita Ciccone, and Raffaella Annamaria Pagani.

In the coming days, the board will meet to finalize the positions.

Currently, board member Matteo Colaninno serves as executive chairman, and board member Michele Colaninno serves as chief executive officer.

The meeting also resolved to distribute a balance on the dividend of 8 cents per share, in addition to the interim dividend of 12.5 cents paid on Sept. 20, for a total dividend for the 2023 fiscal year of 20.5 cents.

Piaggio's stock trades up 1.1 percent at EUR2.80 per share.

By Chiara Bruschi, Alliance News reporter

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