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INWIT: reorganisation and key manager perimeter

Rome, 1 February 2022 – INWIT announces it has made a change to its organisational structure in order to further speed up execution of the Company’s growth targets and foster the deployment of INWIT infrastructure, which benefits from the positive cycle of demand and investments underway, also within the scope of the preferred initiatives of the EU Next Generation Programme.

Consequently, a Technology & Operations department has been set up, temporarily headed by the Chief Executive Officer, Giovanni Ferigo, pending the appointment shortly of a Chief Technology Officer.

As a result, the Board of Directors of INWIT, which met today chaired by Emanuele Tournon, following the change to the organisational structure, updated the perimeter of key managers (i.e. “top management” pursuant to the Corporate Governance Code), confirming Diego Galli as Head of Administration, Finance and Control and CFO of the Company, and Gabriele Abbagnara as Head of Marketing & Sales.

With the establishment of the Technology & Operations department Elisa Patrizi and Massimo Giuseppe Scapini no longer qualify as key managers.  Elisa Patrizi holds 1,866 INWIT ordinary shares and Massimo Scapini does not hold any INWIT ordinary shares.

The Company’s thanks go to Massimo Scapini, who is leaving the company, for the managerial contribution he has made over the years, together with best wishes for upcoming professional challenges. 

The manager will receive severance pay in compliance with the remuneration policy defined with the involvement of a committee made up of a majority of independent directors and approved by the Shareholders’ Meeting on 20 April 2021; the assignment is therefore classified as a related party transaction excluded from application of the related procedure, pursuant to art. 13 of the Consob Regulations adopted with resolution no. 17221/2010 as subsequently amended.