The UniCredit S.p.A. board of directors recently
evaluated the compliance of newly appointed members with requirements from statutory and
regulatory provisions.
Jean Pierre Mustier, Sergio Balbinot and Martha Dagmar Böckenfeld
were
appointed at a shareholders meeting Jan. 12, necessitating assessments of
their backgrounds and external connections. At the most recent board of
directors meeting, all three were cleared for compliance
with integrity and experience requirements.
Böckenfeld and Balbinot were also assessed
for compliance with independence requirements. Based on provisions of the Legislative
Decree no. 58/98 and, in the case of Böckenfeld, the Corporate Governance Code
for Listed Companies and the Articles of Association, the new members’
independence was evaluated based on their disclosures and information available
to UniCredit. Böckenfeld’s professional, business and credit relationships were
evaluated based on how they might affect her independence, weighted criteria designed
to determine the significance of those positions.
All three members were also assessed on
their consistency with the board’s qualitative and quantitative profile, with
policies concerning the number of offices a board member can hold and with
no-interlocking requirements laid out in the Legislative Degree no. 201/2011.
