The Shareholders' Meeting also: (i) approved the first section (“2025 Remuneration Policies”) of the Report on the 2025 remuneration policy and on the compensation paid in 2024; (ii) expressed a favorable vote on the “Second Section” (Compensation paid for the 2024 financial year”) of the Report on the 2025 remuneration policy and on the compensation paid in 2024; (iii) appointed the Board of Directors and its Chairman for the three-year period 2025-2026-2027 and determined the related compensation.
"I am honoured to have the opportunity to serve as Chairman of Iren for the next three years. - says Luca Dal Fabbro, Executive Chairman - The mandate just concluded was full of challenges that the Group was able to face successfully, not only in the evolutionary perspective of our businesses but also by providing timely responses to issues with a strong impact on our stakeholders, such as the energy crisis and the generalized growth of prices. The Iren Group recorded an average annual growth of 8% at EBITDA level, made investments for over 3.1 billion euros and distributed dividends to shareholders for 430 million euros. These results, combined with the consolidation of important companies such as Egea, Iren Acqua, Sei Toscana, Sienambiente, allow us to look to the coming years with confidence, following the path traced in the Business Plan that confirms the Company's multi-business model. We will continue to work with dedication and commitment to achieve our goals, always keeping the values that distinguish us at the center.
I would also like to thank our employees and warmly welcome the new members of the Board of Directors who, with their contributions and skills, will support the continued growth of our Group.”
APPOINTMENT OF NEW MEMBERS OF THE BOARD OF DIRECTORS AND ITS PRESIDENT
The approval of the financial statements as of 31 December 2024 marked the end of the term of office of the Board of Directors. Today, the Shareholders' Meeting therefore appointed the new Board of Directors of the company, which will remain in office for the financial years 2025/2026/2027 (expires: date of approval of the financial statements for the 2027 financial year).
The new Board of Directors is composed of: Luca Dal Fabbro, Moris Ferretti, Gianluca Bufo, Sandro Mario Biasotti, Cristina Repetto, Paola Girdinio, Francesca Culasso, Giuliana Mattiazzo, Patrizia Paglia, Elisa Rocchi, Giacomo Malmesi, Stefano Borotti, Davide Piccioli appointed from list no. 1 presented by Finanziaria Sviluppo Utilities Srl with sole shareholder Municipality of Genoa, FCT Holding SpA with sole shareholder Municipality of Turin, Municipality of Reggio Emilia and Municipality of La Spezia and supported by other public shareholders and by Elisabetta Ripa and Daniele De Giovanni appointed from list no. 2 presented by Studio Legale Trevisan e Associati on behalf of numerous investment fund management companies.
The Shareholders' Meeting also appointed Luca Dal Fabbro to the position of Chairman of the Board of Directors for the 2025/2026/2027 financial years.
The Shareholders’ Meeting also set the maximum total amount for the remuneration of all Directors at €890,000 gross per year (including both the compensation provided for those invested with specific roles and the compensation for participation in the Board Committees and roles provided for by the Corporate Governance Code to which the Company has declared its adherence).
Within this amount, the Shareholders’ Meeting set the compensation to be paid to each Board Member at €30,000 gross per year and reaffirmed the Principle of comprehensive remuneration which, except for the exemption for the specific role of Chief Executive Officer, means that, whenever the conditions for the application of the aforementioned Principle exist, the amounts relating to the aforementioned compensation will not be paid to the interested party.
The documentation required by current legislation relating to today's Meeting is made available to the public at the Company's registered office, at Borsa Italiana S.p.A., on the website www.gruppoiren.it and on the authorized storage mechanism 1Info (www.1info.it) within the terms of the law.
The summary report of the votes referred to in art. 125-quater, paragraph 2, T.U.F. will be made available on the company website www.gruppoiren.it within five days. The minutes of the meeting will be made available to the public in the manner and within the terms established by law.
The Manager in charge of preparing the company's accounting documents, Giovanni Gazza, declares pursuant to paragraph 2 of article 154bis of the Consolidated Finance Act that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.
