Executive Director in charge of the Internal Control and Risk Management System

The CEO of Terna, as the Director in Charge of the Internal Control and Risk Management System identified by the Board of Directors by resolution of December 19, 2012, is responsible for establishing and maintaining the Internal Control and Risk Management System of the Terna Group. More specifically, he implements the guidelines defined by the Board of Directors, ensuring the design, development and management of it and constantly verifying the suitability and effectiveness and the identification of the main business risks, considering the characteristics of the company's business and that of its subsidiaries, submitted regularly to the Board of Directors (Articles 7.P.3, letter a)-(i) and 7.C.4, letter a) and b) of the Governance Code). He carries out the duties assigned by the Governance Code (Article 7.C.4, letters c), d) and e) of the Governance Code). He also appoints and revokes the Chief Risk Officer (CRO) having first sought the opinion of the Control and Risk Committee.

In carrying out its business in FY 2012, the CEO specifically ensured the adaptation of the Internal Control and Risk Management System of the Terna Group to the legislative and regulatory context and the dynamics of the operative conditions of the company also consequent to the reorganisation of the Group, to this end - and through the appointed company structures - reporting to the Control and Risk Committee.