San Donato Milanese, 9 May 2011 - The Board of Directors of Saipem S.p.A., convened and following the resolutions taken by the Shareholders’ Meeting on May 4, 2011, approved the appointments of the Chairman, Deputy Chairman and CEO and Deputy CEO of Saipem S.p.A.
It also ascertained the independence requirements for Board Directors and Statutory Auditors and appointed the members of the internal Board Committees.
Saipem’s Board of Directors is comprised of:
* Alberto Meomartini (Chairman – non-independent, non-executive Director)
* Pietro Franco Tali (Deputy Chairman and CEO – non-independent, executive Director)
* Hugh James O’Donnell (Deputy CEO – non-independent, executive Director)
* Umberto Vergine (non-independent, non-executive Director)
* Gabriele Galateri di Genola (independent, non-executive Director)
* Nicola Greco (independent, non-executive Director)
* Maurizio Montagnese (independent, non-executive Director)
* Mauro Sacchetto (independent, non-executive Director)
* Michele Volpi (independent, non-executive Director)
The Compensation Committee is comprised of:
* Gabriele Galateri di Genola (Chairman)
* Nicola Greco
* Maurizio Montagnese
The Audit Committee is comprised of:
* Mauro Sacchetto (Chairman)
* Maurizio Montagnese
* Michele Volpi
The Board of Directors applied the evaluation criteria set forth in the Corporate Governance Code to ascertain that the Directors Galateri di Genola, Greco, Montagnese, Sacchetto and Volpi meet the independence requirements pursuant to art. 148, paragraph 3, of Legislative Decree 58/98, the Corporate Governance Code promoted by Borsa Italiana, and art. 37, paragraph 1, letter d) and paragraph 1 bis of Issuers’ Regulations. The Board of Statutory Auditors also established the correct application of criteria adopted by the Board of Directors.
It was also ascertained that the Statutory Auditors meet the independence requirements set forth in art. 148, paragraph 3, of Legislative Decree 58/98, and art. 3 of the Corporate Governance Code.
Saipem shares are held by the following persons: Pietro Franco Tali 205,000 shares, Umberto Vergine 920 shares.
Source: www.saipem.com
