Based on the By-laws of Salvatore Ferragamo, the Board of Directors is composed of a minimum of 5 up to a maximum of 15 members, who may also be non-shareholders, appointed by the Shareholders’ Meeting.
Directors will remain in office for a period not in excess of 3 years, as established by the Shareholders’ Meeting from time to time at the moment of their appointment, and may be re-elected. Their office will terminate on the date of the Shareholders’ Meeting called for the approval of the financial statements of the last financial year of their office.
Upon failure of the Shareholders’ Meeting to do so, the Board of Directors will appoint a Chairperson and a Deputy Chairperson among its members at the next meeting following their appointment. In the event of the Chairperson’s impediment or absence, the Deputy Chairperson will act in such capacity.
The directors will be entitled to the Company’s management and will carry out all necessary transactions for implementing the corporate purpose. The Board of Directors may also set up committees with advisory and policy making duties, by fixing the relevant duties and authority.
The Board of Directors in office at present was appointed by the Shareholders’ Meeting on 24 April 2015 for a three-year period and, therefore, until approval of the Financial Statements closed as at 31 December 2017.
The Board of Directors has set up three committees with advisory and policy making duties: the Internal Control and Risks Committee, the Nomination and Remuneration Committee, and the Brand and Product Strategic Committee.
On 8th March 2018, the Board of Directors, with the favourable opinion of the Nomination and Remuneration Committee, has appointed by co-optation pursuant to article 2386 Italian Civil Code, in lieu of the resigning Mr. Eraldo Poletto, Mr. Giacomo (James) Ferragamo as the new Director until next Shareholders' Meeting.