Governance

Oleotecnica S.p.A. (Oleotecnica) has adopted a traditional corporate management model. 

The Board of Statutory Auditors is composed of three standing and two substitute statutory auditors, that shall keep their post for three financial years and who can be re-elected.

Internal control and risk management system

Oleotecnica’s Internal control and risk management system is made up of the process – headed by the Board of Directors including management and other members of the organizational structure – structured and concretely applied so as to provide reasonable certainty on reaching the following objectives:

  • Effectiveness and efficiency of operative activities in using resources;
  • Reliability of information and of the economic/financial reporting, safeguarding privacy of the company’s information assets;
  • Conformity to laws, regulations and related internal procedures;
  • Safeguarding the corporate assets, paying attention to the fact that personnel act to achieve corporate objectives, avoiding to place any other interest above Corporate ones.

Model 231: system to prevent administrative offences resulting from the offences provided for in Law Decree 8th June 2001, nr. 231

Law Decree 8th June 2001, nr. 231 (“the Decree”) has introduced in our legal framework the discipline of administrative liability of “bodies” consequent to committing specific offences. Specifically, companies are liable for committing (or attempting to commit), in Italy or overseas, certain crimes committed by individuals linked to them functionally in the interest or to the advantage of the companies themselves.

Specifically, the body may be held responsible if, before one of the above individuals committing the offence, the body had not adopted and effectively implemented the organizational, management and control models apt to avoid offences of the type committed.

In abidance to provisions in art. 6 of the Law Decree herein, on 22nd December 2009 the Board of Directors adopted its own “Organizational, management and control model”,which lists the set of rules, processes and procedures aimed at preventing offences considered relevant for the Company.

The Model has been revised since then, to consider updates deriving from legal, regulatory and organizational changes.

The duty to supervise on the performance and abidance of the Model, as well as its updating, has been entrusted to a Supervisory Board, acting as a monocratic body.

The commitment is covered by an external consultant, having the necessary requisites of honorability, professionalism, autonomy and independence.

Adopting the Model is an important step towards establishing ethical principles along with legality, transparency and sense of responsibility in internal relations as well as with external partners, in order to offer stakeholders the best guarantees for an efficient and proper management, by introducing procedures apt to manage any situations of risk.

The Code of ethics and conduct is an integral part of the Model. It summarises the principles and the values that Oleotecnica deems fundamental for a proper and fair conduct in carrying out business and corporate tasks.

Such principles and values, as well as the conduct principles listed in Model 231, must inspire all the people involved in carrying out the corporate mission and in reaching company goals, in particular all the employees and those individuals acting on behalf of the Company or having relations with it (partners, suppliers, etc.).

In particular, in pursuing the mission – meaning corporate objectives and, in general, carrying out business – the Company advocates, promotes and expects abidance to its principles of ethics on secrecy, legality, accounting transparency, professionalism, trust, correctness, loyalty, honesty, fairness, equal opportunity and integrity.

Health and Safety on the Workplace management system

Oleotecnica undertakes, in a consistent and prioritised manner, to prevent injuries as well as safeguarding health and safety whilst carrying out corporate tasks.

To such aim, the Company undertakes to spread and consolidate a culture of safety on the workplace developing awareness of risks and promoting responsible behaviour of all its collaborators.

In order to ensure abidance, Model 231 integrates a specific Health and Safety on the Workplace management system, which Oleotecnica has adopted in compliance to the provisions in article 30 of Law Decree 9th April 2008, nr. 81.

Such corporate System has been drawn up in conformity with the UNI- INAIL Guidelines regulating Health and Safety on the Workplace management systems (SGSL) of 28th September 2001.