Finmeccanica Board of Directors Meeting: assessment of independence and update of Committees

Assessment of independence

Today, July 31th, Finmeccanica’s Board of Directors proceeded to assess the fulfillment of the independence requirements for the new Directors appointed by the Shareholders’ Meeting held on 4 July 2013, on the basis of available information and of the statements provided by the single concerned , as laid down by law (Art. 147-ter, paragraph 4 and Art. 148, paragraph 3 of the T.U.F.) and by the  Corporate Governance Code.

As a result of this assessment, the Board verified that Directors Dario Frigerio and Alessandro Minuto Rizzo meet the independence requirements set forth by applicable law and by the Corporate Governance Code. As for the Chairman De Gennaro, in compliance with Corporate Governance Code provisions, the Board of Directors found that he cannot be considered independent being a significant representative of the Company as Chairman of the Board of Directors.

Taking also into account the assessment performed on 23 April 2013, the Board of Directors overall considered (excluding CEO and COO Alessandro Pansa and Director without voting rights Carlo Baldocci) that all non-executive Directors in office (Guido Venturoni, Paolo Cantarella, Giovanni Catanzaro, Dario Frigerio, Dario Galli, Ivanhoe Lo Bello, Silvia Merlo and Alessandro Minuto Rizzo) meet the independence requirements, with the exception of Francesco Parlato (because of his employment relationship with the Ministry of Economy and Finance) and - to the foregoing – of the Chairman De Gennaro.

The Company is therefore broadly in line with the provisions laid down in the Corporate Governance Code requiring the independence for at least one third of the Directors of issuers listed on the FTSE-Mib index.