Iveco Group has its principal place of business in Italy. As a result, through its Italian Branch it is subject – among the others – to Italian Legislative Decree No. 231/2001. This provides for the potential liability of legal entities for a wide (and broadening) range of crimes committed on their behalf or for their benefit by those who have operational authority within the entities and other individuals subject to their direction and supervision.
As recommended by this rule, on December 21,2022 the Board of Directors of Iveco Group N.V. adopted an ad-hoc “Organization, Management and Control Model” for its Italian Branch (the Model), as well as appropriate guidelines for all of its subsidiaries that are subject either to the same Italian legislation or to other Counties’ laws and regulations of similar purport.
The Model offers a significant opportunity to implement an “active” prevention of the aforementioned crimes, by promoting appropriate ethical/behavioural principles and strengthening the Company’s internal control system. The Model defines – consistent with the Code of Conduct – the rules and procedures that must be followed by all the people who work on behalf of or to the benefit of IVG Italian Branch in processes that qualify as relevant vis-à-vis the potential committing of crimes considered under Italian Legislative Decree 231/01.
According to the Model, Iveco Group N.V. appointed a Supervisory Board for its Italian Branch, which is tasked with supervising the operation, effectiveness of and compliance with the Model, and to report on any updating opportunities.
The current Members of the Supervisory Board are:
- Alessandro De Nicola (senior partner at Orrick, Herrington and Sutcliffe law firm) – Chair
- Gabriella Porcelli (Iveco Group General Counsel and Chief Compliance Officer)
- Alessandra Ramorino (Iveco Group Chief ERM & Internal Audit Officer)