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GSE’S
MODEL

We operate with the utmost transparency and openness toward all those who are interested in our activities, be it citizens, enterprises, local bodies and institutions.

The governance model adopted is the traditional one, characterized by a management body (Board of Directors) and a control body (Board of Auditors), both appointed by the Shareholders’ Meeting.

The legal audit service is entrusted to an auditing firm.

Our corporate governance mechanisms are steered toward reporting in a transparent way the functioning of the company’s governance, management and control bodies. Besides, we plan actions aimed at identifying and assessing potential risks of corruption and at preventing possible illegal conducts.

CORPORATE GOVERNANCE AND MAIN FUNCTIONS

SHAREHOLDERS’ MEETING

It approves the Financial Statements, it appoints the Board of Directors, the Board of Auditors, the Auditing Firm and it modifies the Statute.

 

BOARD OF DIRECTORS

It manages the Company, in an exclusive way, carrying out all which is necessary for the implementation of the corporate object.

 

BOARD OF AUDITORS

It supervises compliance with the law and the Statute, the respect of fair administration and, in particular, the suitability of the organizational and administrative structure

 

AUDITING FIRM

It audits the financial statements and periodically verifies the accounts.

 

SURVEILLANCE BODY

It supervises the functioning, effectiveness and compliance of the Model, and it is in charge of updating it.

DELEGATED MAGISTRATE OF THE COURT OF AUDITORS

The delegated magistrate controls the Company’s financial management by attending the Board of Directors’ and Board of Auditors’ meetings, and submits a report to the Parliament, on a yearly basis, concerning the outcomes of the mentioned control.