- 2010 FINANCIAL STATEMENTS APPROVED
- NEW BOARD OF DIRECTORS APPOINTED: 15 DIRECTORS, 8 OF WHOM ARE INDEPENDENT
- AUTHORISATION FOR PURCHASE OF TRESURY SHARES IS RENEWED
- SOME AMENDMENTS TO THE BY-LAW HAVE BEEN APPROVED
BOARD OF DIRECTORS
- TOP MANAGEMENT TEAM IS CONFIRMED WITH NEW APPOINTMENTS:
MARCO TRONCHETTI PROVERA CHAIRMAN, GIULIO MALFATTO VICE CHAIRMAN,
ENRICO PARAZZINI MANAGING DIRECTOR FINANCE
PAOLO BOTTELLI, ALREADY GENERAL MANAGER,
NEW CHIEF EXECUTIVE OFFICER
In the ordinary session the Shareholders’ meeting approved the 2010 financial statements which closed with a net loss of about 95.3 million Euros at consolidated level (-104.3 million in the previous financial year) and about 133.5 on a financial year balance level (-95.2 million in 2009). The Shareholders’ meeting resolved to cover the loss entirely by using reserves.
In 2010 Prelios recorded the return to a positive EBIT1 (+41.1 million Euros) after two financial years at a loss (-6.6 in 2009 and -36.7 in 2008). Almost the entire amount of the net result was affected by real estate writedowns and one-off restructuring costs for a total of 98.5 million Euros (55.3 million at December 2009).
The Shareholders’ meeting appointed the Board of Directors, determining the number of members to be 15 and voting on the only list presented by those participating in the shareholders' agreement on Prelios S.p.A. stock (Camfin, Mediobanca, Edizione, Assicurazioni Generali, Intesa Sanpaolo and Massimo Moratti). The duration of office was also established at three financial years (and therefore until the Shareholders’ meeting called to approve the financial statements as of 31 December 2013) and the total annual compensation of the entire Board was set at a maximum of 650,000 Euros.
The following were appointed as Directors: Marco Tronchetti Provera, Giulio Malfatto, Enrico Parazzini, Paolo Massimiliano Bottelli, Davide Malacalza, Jacopo Franzan, Amedeo Nodari, Giuseppe Angiolini (independent), Carlo Emilio Croce (independent), Dario Trevisan (independent), Giorgio Valerio (independent), Giovanni Jody Vender (independent), Valter
Lazzari (independent), Marina Brogi (independent) and Giovanni Fiori (independent).
The independent directors represent more than half of the directors (8 of the 15).
The Directors' curricula vitae, already published in accordance with the law and the Articles of Association, can be consulted on the internet site www.prelios.com.
1 Reports EBIT including net income from investments and income from shareholder loans before restructuring costs and propertywritedowns/revaluations.