Governance and organisation
Snam operates within the framework of the Universal Declaration of Human Rights, the fundamental conventions of the ILO and the OECD Guidelines for Multinational Enterprises, and in compliance with its own Code of Ethics, which is also a key element of the Organisational Model of Legislative Decree 231/2001.
Snam’s governance plays a crucial role in value creation dynamics. It helps to determine the conditions for the Company to interact properly and adequately with its reference environment, in particular by putting into practice the principles of integrity, transparency and compliance with internal and external rules, with the ultimate aim of reconciling the interests of our various stakeholders.
The governance system reflects the ‘traditional’ model and is developed in accordance with applicable industry regulations (laws governing unbundling and listed companies), while also taking into account national and international best practice.
The evolution from Group to “One Company”, also as a result of the separation of natural gas distribution activities, seeks to facilitate inter-functional collaboration and effective end-to-end process management, moving towards an organisational structure that supports the implementation of the strategic plan through:
- the creation of four business units focused respectively on commercial development activities, the management of Italian subsidiaries, the management of foreign investments, and the development of services dedicated to operators in the gas sector;
- Staff functions redesigned with a view to simplifying processes, efficiency and continuous improvement.
The objective of Snam’s reorganisation is to optimise transversal processes, enhance specific skills, and create centres of competence.
On July 1, the new organisational structure, born of the Integra project and inspired by the One Company model was implemented. As a result, the management of compression and storage plants, commercial activities and business support activities have become faster and more streamlined, placing an even stronger focus on the market and on all of Snam’s stakeholders. The new structure entailed:
- the transfer of Operation & Maintenance and storage dispatching activities from Stogit to Snam Rete Gas;
- the merger into Snam of the Commercial functions, HSEQ – with the exception of the prevention and protection service – Administration, Budget and Supply Chain of Stogit and LNG.
Founding elements of Snam’s new organisational model
(More detailed information on governance can be found in the document “2017 Report on corporate governance and ownership structure”, which was published online at www.snam.it at the same time as the Annual Report).
(More detailed information on remuneration can be found in the document “2018 Remuneration Report”).