On 14 December 2007 the Board of Directors approved the Company’s new Corporate Governance Code, which takes account of the related recommendations published by Borsa Italiana in March 2006 and the new organisational structure adopted by the Group with effect from 2007. As previously announced, the new organisation has reinforced, on the one hand, Atlantia’s identity as a holding company responsible for investments and portfolio strategies and, on the other, the role of Autostrade per l’Italia (a wholly owned subsidiary) as an operating parent company involved in the management of infrastructure under concession and the related businesses.
In this regard, the new Code establishes that Atlantia’s Board of Directors are responsible for approving the budgets and strategic, business and financial plans of both the Company and the Group, including those of a long-term nature, and any transactions not envisaged by the plans themselves, but that may be necessary for their implementation.
The Company will continue to apply the previously adopted corporate governance model, which represents the best way of providing the market with guarantees of management efficiency, and of maintaining a constructive dialogue with shareholders, institutional investors and stakeholders in general.
The Company’s Corporate Governance Code was subsequently revised by the Board of Directors on 11 November 2011, in order to take account of the new art. 7 of Borsa Italiana’s Corporate Governance Code related to the remuneration of Directors and key management personnel.
| Corporate Governance Code |  |