Corporate Governance

Corporate Governance

The corporate governance system of MolMed complies with the principles of the corporate governance code for listed companies and, in general, with the leading best practices. 

The corporate governance system adopted by MolMed is the traditional one where the management of the company is entrusted to the board of directors and the control functions are vested in the board of statutory auditors. The statutory audit is performed by an independent auditing firm. 

The shareholders’ meeting resolves upon the most important decisions for the Company, including the appointment of the corporate bodies, the approval of the financial statements and any amendment to the articles of association. 

The board of directors, which is responsible for the management of the company, has delegated some of its powers, in compliance with the law and the articles of association, to the chairman and the chief executive officer and has established two internal committees, with advisory and consulting functions: the control and risk committee, which acts also as related parties committee, and the nomination and compensation committee. 

The legal representative of the Company is the chairman of the board of directors as well as the chief executive officer within the limits of the powers conferred. 

In order to clearly and transparently define the set of values on which it is based in order to achieve its institutional targets, MolMed has adopted the code of ethics and the organization, management and control model pursuant to Legislative Decree no. 231/2001 and has appointed a supervisory board in accordance with the aforementioned Decree. 

The annual report on corporate governance provides a complete overview of the corporate governance system adopted by MolMed as well as of its development, with reference to the recommendations of the corporate governance code and the conduct actually adopted.