Governance Structure

Since its inception, Snam Rete Gas S.p.A. has had a corporate governance system which is in line with international best practice; in other words, a set of rules which govern and inform the company’s management and control. It defines how roles and rights are allocated to company personnel by assigning duties, responsibilities and decision making powers. It also ensures compliance with the relevant legislation, codes of conduct, internal procedures and regulations.

The aim of the corporate governance system is to create value for shareholders, bearing in mind the company’s social importance, particularly with regard to protecting the environment, staff health and safety, workers’ rights, equal opportunities, working with the local and national community in which the company is present, and the interests of all stakeholders.

The corporate governance system is based on the guidelines set out in the “Code of Conduct for Listed Companies” proposed by the Committee for Corporate Governance of Listed Companies, following the recommendations made by Consob (the National Commission for Listed Companies and the Stock Exchange), as well as international best practice. The company’s board of directors had already complied with the aforesaid guidelines with its resolution of 27 July 2001 and subsequently adopted the amendments and additions made to the Code in July 2002. It adopted the new Code published on 14 March 2006 with its resolution of 11 December 2006.

In 2007, Snam Rete Gas beat other major listed and unlisted Italian companies to win the “Oscar for Best Corporate Governance” in the awards sponsored by Italian PR body FERPI. The prize was awarded for its ongoing commitment over the years to align its corporate governance system with international best practice.

In accordance with current legislation, information on the corporate governance system of Snam Rete Gas S.p.A. can be in our Company Organisation section.