Innovatec’s Board of Directors is the executive body of the company and consists of eight members, who are entrusted with the powers for the ordinary and extraordinary management of the companies.
The mechanisms for appointing and replacing the Board of Directors are contained in the Articles of Association. Directors remain in office for up to 3 financial years and may be re-elected. The Board of Directors has the widest powers, without limitation, with the authority to perform all acts deemed necessary to achieve the corporate purposes, excluding only those which, by law or by the Articles of Association, are reserved for the competence of the Shareholders’ Meeting. Their term of office expires on the date of the Shareholders’ Meeting called to approve the financial statements for the last year of their term.