A special meeting of the Board of Directors co-opted Carlo Croce on to the Board as non-executive director in place of Sergio Lamacchia, who passed away recently. Sergio Lamacchia had been a non-executive director since 2002 and before that Secretary to the Board from 1987.
The Board also decided to elect the independent director Paola Lucarelli to the Remuneration Committee in place of Sergio Lamacchia. It should be recalled that the other members of this Committee, Reginald Bartholomew and Claudio Recchi, are also independent directors.
The Board of Directors elected Carlo Bianco, formerly Managing Director Asset Management Residential and Trading, as Deputy Chairman. Emilio Biffi has been appointed Chief Technical Officer, thereby heading the department that is to provide specialist support to the various business units.
The Board also appointed Olivier de Poulpiquet, formerly General Manager Commercial and Non-Performing Loans, as General Manager Investment & Asset Management. Mr. de Poulpiquet will thus be in charge of all purchases, international development and coordinating Asset Management operations.
Enrico Signori, Deputy General Manager, has been handed responsibility for Asset Management Portfolios and Development in the Residential sector; Rodolfo Petrosino, Deputy General Manager, responsibility for Asset Management Portfolios and Development in the Commercial sector and Paolo Bottelli, Deputy General Manager, is to be head of Services.
The changes approved today reflect the new organisational structure designed to better respond to the Company's growing needs and developments in the market in which it operates.