Cir, confirmation at the top for Rodolfo De Benedetti and Monica Mondardini – La Stampa


The Cir Shareholders’ Meeting approved the financial statements for 2019 of Cir and Cofide before the merger. For the next three years, the board confirmed Rodolfo De Benedetti as president and Monica Mondardini as CEO of the company. The Assize also approved the proposals of the Board of Directors not to distribute dividends and not to renew the authorization to purchase treasury shares. This proposal had already been presented on April 21 last.

The group ended the year with pro-forma consolidated revenues of 2,114.4 million euros, substantially stable compared to 2018, and an Ebitda of 290.3 million, down 7.4% on an equal accounting basis. The net result before the effects relating to GEDI was positive for 14.3 million (22.6 million excluding non-recurring elements and changes in accounting standards, in line with 21.8 million, comparable value for the 2018 financial year); including GEDI, the group recorded a loss of 122.4 million euros.

Change the board with two releases and five new entries. The Shareholders’ Meeting extended the number of members of the Board of Directors to 12, compared to 9 for the outgoing Board. Rodolfo De Benedetti, Monica Mondardini, Edoardo De Benedetti, Marco De Benedetti, Franco Debenedetti, Philippe Bertherat, Maristella Botticini, Paola Dubini, Silvia Giannini, Pia Luisa Morocco, Francesca Pasinelli and Maria Serena Porcari have been nominated for the three-year period 2020-2022.

The shareholders also appointed the members of the board of statutory auditors of the company for the three-year period 2020-2022. The effective auditors are Francesco Mantegazza, Maria-Maddalena Gnudi and Gaetano Rebecchini. The alternate auditors are Antonella Dellatorre, Luigi Macchiorlatti Vignat and Gianluca Marini.

In an extraordinary session, the Shareholders’ Meeting renewed the powers to the Board of Directors for share capital increases up to a maximum amount of € 500 million, and to issue, also with the exclusion of the option right, and in this case in favor of investors institutional, convertible or warrant bonds. Following the Shareholders ‘Meeting, the Board of Directors, in accordance with the powers delegated to it by the Shareholders’ Meeting, implemented the 2020 stock grant plans by assigning 3,640,311 rights.

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