GOVERNANCE

The Consorzio Integra articles of association set out a modern dual governance system. They give the Supervisory Board the greatest possible powers to make checks, including preliminary checks, and strategic guidelines, in order to protect the members’ interests.

At least three independent board members are appointed to the Supervisory Board.

It is without doubt the first time that such a set of features has been seen among corporations and cooperatives adopting the dual management and control system.

The Management Board, which has exclusive management powers, is formed by chair Mr Vincenzo Onorato, vice-chair Ms Adriana Zagarese, and board member Mr Aldo Scarantino.

Consorzio Integra has set down contractor regulations. Their features include:

  1. selection criteria that account for:

    • the members’ industrial characteristics, and organizational, operating and economic-financial capacities with regard to the contract to be fulfilled;

    • observance of the compliance rules, such as periodical transmission of updates as per Italian legislative decree no. 231/01, presence on the white list, and so on;

    • specific rules on participation in tenders divided into several lots.

  2. system to monitor progress of the contract and measures for withdrawing allocated jobs to prevent situations of serious default, also based on parameters such as:

    • serious disputes by the client;

    • serious delays in payment of subcontractors;

    • credit risk, deterioration of company status or decrease in the contractors’ rating.