Board of statutory auditors

Salvatore Ferragamo has adopted the so-called traditional management and control model foreseen under the Italian legal system, according to which all supervisory duties are entrusted to a Board of Statutory Auditors.

The Board of Auditors supervises the compliance with the law and with the By-laws, as well as with the principles of correct administration and, in particular, whether the administrative and accounting organisational structure adopted by the Company is appropriate and is specifically implemented, also fulfilling any other duty entrusted by the laws and regulations in force.

The Board of Statutory Auditors is composed of three standing statutory auditors and of two alternate statutory auditors.

The statutory auditors will remain in office for 3 financial years and may be re-elected.  Their office will terminate as at the date of the Shareholders’ Meeting convened for the approval of the financial statements concerning the third financial year in office.  Termination of office (for expiry of the term of office) will however be effective as of the moment in which the Board is set up again.

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