The management and control system that we have adopted is the so called "traditional" system. This governance model has proven itself to be suited of managing the business efficiently, while ensuring effective controls, and thus guaranteeing the sound and prudent management of a complex global banking group like the UniCredit Group. Such governance model is based on the existence of two corporate bodies appointed by the Shareholders' Meeting: a Board of Directors and a Board of Statutory Auditors. Legal accounting supervision is entrusted by the Shareholders' Meeting to an external audit firm, on proposal of the Board of Statutory Auditors.
Also in line with the provisions of the Corporate Governance Code, the Board of Directors has established four Committees, vested with research, advisory and proposal-making powers:
- the Internal Controls & Risks Committee
- the Corporate Governance, Nomination and Sustainability Committee
- the Remuneration Committee
- the Related-Parties Committee.
Corporate Bodies and Committees Regulation
This Regulation governs the function and competencies of the UniCredit Corporate Bodies and Board Committees, in compliance with law, regulations and the Articles of Association, incorporating the principles and criteria established under the Italian Corporate Governance Code for listed companies.