Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

The Executive Committee is currently made up as follows:Members Post ExecutiveRenato Pagliaro Chairman XAlberto Nagel CEO XFrancesco Saverio Vinci Deputy Chairman, Executive Committee XVincent Bollorè • DirectorMaurizio Cereda Director XMassimo Di Carlo Director XAngelo Casò * • DirectorEric Strutz • Director* Independent as defined in Code of conduct for listed companies.• Independent as defined in Article 148 of Italian Legislative Decree 58/98.Pursuant to the Bank’s Articles of Association, the Executive Committee isresponsible for managing the ordinary activities of the bank and for co-ordinating anddirecting the Group companies without prejudice to those issues for which the Board ofDirectors has sole jurisdiction. In particular the Executive Committee is responsible forthe Bank’s operating performance, approving resolutions to grant loans and tradinginvolving the Group’s interests in Assicurazioni Generali, RCS MediaGroup and Telcoas well as other shareholdings for amounts and percentage values not to exceed thosefor which the Board of Directors itself has jurisdiction. It also draws up internalregulations, to be submitted to the approval of the Board of Directors, and establishesthe principles for co-ordination and management of the Group companies in executionof the strategic guidelines approved by the Board of Directors.Resolutions are approved by the Executive Committee with the majority ofits members in attendance and voting in favour.Executive Committee meetings are called on the initiative of the Chairmanbased on the requirements of the business, as a rule meeting once a month.A total of twelve meetings are scheduled for the present financial year(twelve meetings took place in the period from 1 July 2010 to 30 June 2011).MANAGINGDIRECTOIRECTORThe Board of Directors appoints a Managing Director from among theDirectors who have been members of the Banking Group’s management for atleast three years.– 557