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1. ISSUER PROFILE
Prysmian S.p.A., the holding company heading one of the world’s top cable industry groups, is active in the design, development, manufacture, supply and installation of a wide range of cables for many different applications in the power, and telecommunications industries.
The Prysmian Group, present in 50 countries with 108 manufacturing plants, 26 R&D centres and some 30,000 employees, is well positioned in high-tech markets by offering an extensive range of products, services, technology and know-how. In the energy sector, the Group operates in the business of underground & submarine cables and systems for power transmission and distribution, including special cables for applications in various industrial sectors, and medium & low voltage cables for construction and infrastructure. For the telecommunications sec- tor, the Group manufactures cables & accessories for voice, video and data transmission, with a full range of optical fibre, optical & copper cables, and connectivity systems.
Since 3 May 2007, Prysmian securities have been listed on EURONEXT Milan (formerly the MTA) managed by the Italian Stock Exchange. In September 2007, the securities were admitted to the FTSE/MIB index. Borsa Italiana announced the launch of the new MIB® ESG index on 10 October 2021. This is the first ESG index dedicated to leading Italian issuers with the best ESG practices and Prysmian has been included.
Since March 2010, following the former majority shareholder’s sale of its interest in the Com- pany, the Company assumed a genuine public company structure, characterised by a broad and diversified shareholder base.
The Company’s Corporate Governance structure has been drawn from the recommendations and standards contained in the Corporate Governance Code, by which the Company abides. The rules of Corporate Governance are a direct expression of the standards and procedures that the Company has adopted and undertakes to comply with to ensure effectiveness and transparency in all transactions.
The Company has adopted a traditional governance and control model characterised by a Shareholders’ Meeting, a Board of Directors and a Board of Statutory Auditors. This Corporate Governance system is based on the core role of the Board of Directors (as the most senior body delegated to manage the Company in the interests of shareholders), on the transparency of decision-making processes, on an effective internal control system, on careful rules governing potential conflicts of interest and on appropriate standards of conduct for related party trans- actions.
Prysmian has implemented this system by drawing up and adopting codes, standards, rules and procedures that govern and regulate the performance of all the Company’s organisational and operational bodies.
The Board of Directors has the broadest possible powers of ordinary and extraordinary admin- istration, except for those, which by law are the exclusive prerogative of the Shareholders’ Meeting. The Board of Statutory Auditors oversees compliance with the law, the By-laws and the standards of good management in the performance of company activities whilst also monitoring the adequacy of the Company’s organisational structure, internal control, administrative and accounting systems.
The independent audit of the accounts is entrusted to a specialist firm registered at the Register of Auditors held by the Ministry of Economy and Finance and appointed by the Shareholders’ Meeting.
The Board of Directors gives significant priority to the leading role of the Prysmian Group in order to pursue sustainable growth and consistent value creation for the Company over the medium-long term.
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