Autogrill appoints new board of directors

Nicole Mezzasalma

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The new board will consist of 12 members with three-year tenures appointed by the company’s shareholders

The shareholders of Italian retail group Autogrill have appointed a new board of directors for the company based on a list put forward by the majority shareholder Schematrentaquattro. The new board will consist of 12 members, who will serve three-year mandates until the approval of financial statements on December 31 2010.

Autogrill’s shareholders also authorised the purchase and possible subsequent disposal of up to 5% of the company’s share capital in order to enable intervention in case of “share price fluctuations beyond normal market variations” or to fund possible stock options for directors, employees or collaborators.

Following the shareholders’ meeting, the board of directors formally defined posts, relative powers and delegations. Gilberto Benetton was confirmed as chairman of the board and Gianmario Tondato da Ruos remains as CEO. The other members of the board are Alessandro Benetton, Francesco Giavazzi, Javier Gomez-Navarro, Giorgio Brunetti, Alfredo Malguzzi, Paolo Roverato, Antonio Bulgheroni, Arnaldo Camuffo, Claudio Costamagna and Gianni Mion.

Tondato da Ruos told the shareholders that the company will devote the next three years to internal reorganisation following the acquisition of World Duty Free and the remaining shares in Aldeasa.