The Supervisory Board of Ubi Banca has approved the transition to the one-tier governance model. Through a note, the bank announces that the Supervisory Board of the institute has approved the guidelines of the new governance drawn up by the "Governance Commission", a body within the same Supervisory Board, established last June.
Lines that precisely provide for the adoption of the one-tier governance model, i.e. the return to the classic board of directors. The note also explains that this model is more recognizable given its wide diffusion at an international level, more efficient from an organizational point of view, capable of maintaining a strong focus on the control function, located within the board, with the consequent participation to making strategic decisions (as in the current supervisory board) and managing the company. The board will be composed of 15 members.
The decision, however, must be approved by the shareholders' meeting.
