Asset Publisher

CONSOB: Report on the Corporate Governance of Italian Listed Companies for 2019 (March 2nd, 2020)

Consob has published the Report on the Corporate Governance of Italian Listed Companies for 2019, providing evidence about: ownership structures, corporate bodies, shareholders' meetings and transactions with related parties, on the basis of data resulting from supervisory statistical reports and public information.

The Report contains a survey of some occurrences whose evolution is linked to regulatory innovations which took place in recent years, such as: (a) the increase in voting rights, in reference to companies that have issued multiple voting shares, envisaging the so-called loyalty shares; (b) the presence of women in the boards of Italian listed companies, with the analysis of the data relating to the last shareholders' meeting season (June 2019), in which this parameter reached the maximum values; (c) the activism of institutional investors, by examining the data on the participation of shareholders in the meetings of the 100 largest capitalization listed companies, in addition to the vote expressed on the remuneration policy, taken as an indicator of their activism; (d) the relationship between corporate governance and sustainability, with the increasing attention of companies to ESG (Environment, Social, Governance) factors and, more specifically, the provision of new parameters for new, more 'sustainable', policies of remuneration, such as the attention to social and / or environmental issues.

The text of the Report is available on the website at the link: /web/consob-and-its-activities/report-on-corporate-governance.