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    DLG   IT0003115950

DE'LONGHI S.P.A.

(DLG)
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De'Longhi S p A : Corporate Governance and Shareholding Structure Report 2020

03/30/2021 | 11:22am EST

C O R P O R A T E G O V E R N A N C E A N D S H A R E H O L D I N G

S T R U C T U R E R E P O R T

2020

Pagina intenzionalmente vuota

Corporate governance

and shareholding structure report

pursuant to Article 123-bis of the TUF (traditional management and control model)

Issuer: De' Longhi S.p.A.

Website: www.delonghigroup.com

Financial year to which the Report refers: 2020

Date of Report approval: 11 March 2021

Table of contents

GLOSSARY

5

1.

ISSUERS' PROFILE

8

2.

INFORMATION ON THE SHAREHOLDING STRUCTURE

(pursuant to Art. 123-bis, para. 1, TUF) at 11 March 2021

9

a) Share capital structure (pursuant to Art. 123-bis, para. 1(a), TUF)

9

b) Restrictions on the transfer of shares (pursuant to Art. 123-bis, para. 1(b), TUF)

10

c) Major shareholdings (pursuant to Art. 123-bis, para. 1(c), TUF)

10

d) Shares granting special rights (pursuant to Art. 123-bis, para. 1(d), TUF)

11

e) Employee shareholdings: mechanism for exercising voting rights

(pursuant to Art. 123-bis, para. 1(e), TUF)

12

f) Restrictions on voting rights (pursuant to Art. 123-bis, para. 1(f), TUF)

12

g) Shareholder agreements (pursuant to Art. 123-bis, para. 1(g), TUF)

12

h) Change-of-control clauses (pursuant to Art. 123-bis, para. 1(h), TUF)

and statutory provisions relating to takeovers

(pursuant to Art. 104, para. 1-ter and 104-bis, para. 1, TUF)

12

i) Powers to increase the share capital and authorisations to purchase own shares

(pursuant to Art. 123-bis, para. 1(m), TUF)

13

l) Management and coordination activities (pursuant to Art. 2497 et seq. of the Civil Code)

15

3.

COMPLIANCE (pursuant to Art. 123-bis, para. 2(a), TUF)

15

4.

BOARD OF DIRECTORS

16

4.1. Appointment and replacement (pursuant to Art. 123-bis, para. 1(l), TUF)

16

4.2. Composition (pursuant to Art. 123-bis, para. 2(d) and (d-bis), TUF)

19

4.3. Role of the Board of Directors (pursuant to Art. 123-bis, para. 2(d), TUF)

26

4.4. Delegated Bodies

32

4.5. Other Executive Directors

34

4.6. Independent Directors

34

4.7. Lead Independent Director

34

5.

TREATMENT OF CORPORATE INFORMATION

35

6.

BOARD COMMITTEES (pursuant to Art. 123-bis, para. 2(d), TUF)

35

7.

REMUNERATION AND APPOINTMENTS COMMITTEE

36

8.

DIRECTORS' COMPENSATION

36

9.

CONTROL AND RISKS, CORPORATE GOVERNANCE AND SUSTAINABILITY COMMITTEE

37

2

10.

INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM

39

10.1. Director responsible for the Internal Control and Risk Management System

42

10.2. Internal Audit Manager

44

10.3. Organisational model pursuant to Legislative Decree 231/2001

46

10.4. External Auditors

48

10.5. Financial Reporting Officer

49

10.6 Coordination between the parties involved in the internal control

and risk management system

50

11.

DIRECTORS' INTERESTS AND TRANSACTIONS WITH RELATED PARTIES

50

12.

APPOINTMENT OF STATUTORY AUDITORS

52

13.

COMPOSITION AND FUNCTIONING OF THE BOARD OF STATUTORY AUDITORS

(pursuant to Art. 123-bis, para. 2(d) and (d-bis), TUF)

53

14.

RELATIONS WITH SHAREHOLDERS

57

15.

SHAREHOLDERS' MEETING (pursuant to Art. 123-bis, para. 2(c), TUF)

57

16.

OTHER CORPORATE GOVERNANCE PRACTICES

(pursuant to Art. 123-bis, para. 2(a), TUF)

59

17.

CHANGES SINCE THE CLOSING OF THE FINANCIAL YEAR

60

18.

CONSIDERATIONS ON THE LETTER FROM THE CHAIRMAN

OF THE CORPORATE GOVERNANCE COMMITTEE DATED 22 DECEMBER 2020

60

TABLE 1: STRUCTURE OF THE BOARD OF DIRECTORS AND THE COMMITTEES

63

TABLE 2: STRUCTURE OF THE BOARD OF STATUTORY AUDITORS

64

CORPORATE GOVERNANCE AND SHAREHOLDING STRUCTURE REPORT

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

De’Longhi S.p.A. published this content on 30 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 15:21:01 UTC.


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