The IFIL Stockholders’ Meeting, which met today in Turin under the chairmanship of
Gianluigi Gabetti, approved the statutory financial statements for the year ended
December 31, 2004, which – as previously announced – show a profit of € 80.2 million
and voted to distribute dividends on ordinary shares for € 0.0683 and on savings shares
for € 0.089, for a total of € 74.3 million. The ex-dividend date is July 11, 2005 and
dividends are payable beginning July 14.
The Stockholders’ Meeting also renewed the authorization for the buyback and
disposition of treasury stock and elected the Board of Directors and Board of Statutory
Auditors since they completed their three-year term of office. After expressing its
appreciation to the outgoing director Mario Greco for his contribution to the company,
the Stockholders’ Meeting re-elected for the years 2005-2007 the other directors now in
office and appointed the new director Pietro Ferrero (please refer to the attached
curriculum vitae). The new IFIL Board of Directors is thus composed of the following
members: Tiberto Brandolini d’Adda, John Elkann, Pietro Ferrero, Edoardo Ferrero di
Ventimiglia, Gianluigi Gabetti, Franzo Grande Stevens, Giancarlo Lombardi, Antonio
Maria Marocco, Giuseppe Recchi, Claudio Saracco, Pio Teodorani-Fabbri and Daniel
John Winteler. The Stockholders’ Meeting, lastly, elected the Board of Statutory Auditors
for the same term of office, in the persons of Cesare Ferrero (Chairman), Giorgio Giorgi
and Paolo Piccatti.
The Board of Directors, which met afterwards, elected Gianluigi Gabetti as Chairman and
President and Daniel John Winteler as Managing Director and General Manager.
Executive Committee members were also appointed: Gianluigi Gabetti (Chairman),
Tiberto Brandolini d’Adda, John Elkann and Daniel John Winteler.
In addition, the members of the Compensation and Nominating Committee were appointed
(John Elkann, Chairman, Gianluigi Gabetti and Pietro Ferrero) as were the members of the
Audit Committee (Antonio Maria Marocco, Chairman, Giancarlo Lombardi and Claudio
Saracco).
The Board of Directors has verified that the directors Pietro Ferrero, Giancarlo Lombardi,
Antonio Maria Marocco, Giuseppe Recchi and Claudio Saracco possess the requisites for
independence as required by the Self-Regulatory Code of listed companies (Preda Code).
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