July 14, 2015
Alberto Giovannini as new Chairman
CHANGES TO THE COMPOSITION OF THE BOARD OF DIRECTORS
The Board of Directors of Salini Impregilo S.p.A. appointed today Alberto Giovannini as Chairman of the Company's Board of Directors.
Giovannini replaces Claudio Costamagna, recently appointed Chairman of the Board of Directors of Cassa Depositi e Prestiti S.p.A., who has tendered his resignation from his position as Director, Chairman of the Board of Directors and member of the Executive Committee of Salini Impregilo. Alberto Giovannini succeeds to Claudio Costamagna, consistently with what has been done until now by the Board of Directors, with regard to independence, competence and Corporate Government best practices.
The Board of Directors warmly thanks Mr Claudio Costamagna for his fundamental contribution for the constitution of the Salini Impregilo Group, wishing him the best for his new prestigious role.
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Alberto Giovannini obtained a Degree in Economics at the University of Bologna and a Ph.D. in Economics at the Massachusetts Institute of Technology.
A significant part of his career has been spent working as an expert on topics dealing with financial and capital matters for the Italian Ministry of the Treasury and for the European Commission, for which he served as Co-Chairman of the "High Level Expert Group on SME and Infrastructure Financing" and that of "Chairman of the Giovannini Group, Principal Policy Advisor of the Directorate General for the Single Market on Clearing and Settlement”.
His technical expertise regarding capital markets, together with his international experience that he developed both academically, as manager, and in complex contexts of international entities like the International Monetary Fund and the World Bank, makes him a figure of interest for the Italian business world as Independent Director, a role that characterizes his career starting from the mid '90s, with the appointment as a member of the Board of Directors of Enel.
His professional profile is completed by an academic career marked by a series of relationships with universities and research centers such as the Columbia University, as Full Professor and prestigious research centers like the National Bureau of Economic Research, Cambridge (USA), the Centre for Economic Policy Research, London, United Kingdom, Zhongshan University School of Business, Guangzhou, China, and the Institut für Weltwirtschaft, Kiel, Germany.
Since 2012 he has been an Independent Director of the Board of Salini Impregilo S.p.A. having provided an important contribution in the definition of the corporate governance of the new company that was established on the 1st of January 2014.
All information regarding the professional profile of the newly elected Alberto Giovannini can be found on the Company's website, in the following section:
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Following the new role as Chairman of the Board of Directors, Mr. Giovannini has tendered his resignation as Member, with Chairman functions, of the Committee for Related - Party Transactions.
Considering this resignation, the Board of Directors has decided to determine the following:
- to reduce the total number of members of the Executive Committee from five to four members, which results therefore as follows:
- Pietro Salini (with Chairman functions)
- Alberto Giovannini
- Nicola Greco
- Giacomo Marazzi
- to appoint the non-executive independent member Giuseppina Capaldo as member of the Committee for Related - Party Transactions, which will result as follows:
- Marco Bolgiani
- Marina Brogi
- Giuseppina Capaldo
- Geert Linnebank
The Committee for Related - Party Transactions has appointed Marco Bolgiani as Chairman.