The Board of Directors of Snam, which met under the chairmanship of Nicola Bedin, appointed, by co-optation, Qinjing Shen as a non-executive and non-independent board member, upon proposal of the Appointments Committee and with the approval of the Board of Statutory Auditors.
The appointment followed the resignation, due to supervening professional commitments, of Yunpeng He, appointed by the Shareholders’ Meeting on April 2 nd, 2019 and drawn from the slate expressed by the shareholder CDP Reti S.p.A.
By appointing Qinjing Shen, current board member of CDP Reti S.p.A., Snam's Board of Directors took up the invitation made by the shareholder CDP Reti S.p.A., which, in a letter received by the company on February 3 rd, 2022, had submitted the relevant application for its independent evaluation.
The new board member, who accepted the appointment and will remain in office until the next Shareholders' Meeting of Snam, does not meet the independence requirements set out in art. 148, subsection 3 of the Legislative Decree no. 58 of 1998 and art. 7 of the Corporate Governance Code.
The Company's Board of Directors also appointed Qinjing Shen as a member of the ESG Committee, thus replacing Yunpeng He.
To the best of the company's knowledge, Qinjing Shen does not hold any shares in Snam.
The Snam Board of Directors also approved the "Snam Board of Directors' Guidelines to Shareholders on the future size and composition of the Board of Directors" in line with the recommendations of the Corporate Governance Code.
The document, which also includes the Board's guidelines on the maximum number of offices for board members, is available to the public at Snam's registered office at Piazza Santa Barbara 7, San Donato Milanese, on the website www.snam.it, "Governance & Conduct – Reports and Documentation" section, and at the authorised storage mechanism "eMarket STORAGE" ( www.emarketstorage.com ) .
In line with the Corporate Governance Code recommendations, the outgoing Board of Directors' guidelines are disseminated in advance of publication of the call notice and of provision of the documentation for the Shareholders' Meeting, so as to facilitate the Shareholders in view of the Shareholders' Meeting scheduled – as per the financial calendar – on April 27 th, 2022.
