Lead Independent Director

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To further empower the company's independent directors (7 directors out of 13 are independent directors) the Board has created a new position of Lead Independent Director.

The LID (the Chairman of the Audit and Corporate Governance Committee, currently Adriano De Maio) serves as a point of reference for independent director needs and input. Independently or at the behest of other Directors, the Lead Independent Director may among other things call ad hoc meetings solely for independent directors. Such independent director executive sessions provide a forum for discussing how the Board of Directors functions and company management practices.