IL RUOLO DEL PRESIDENTE DEL CONSIGLIO DI AMMINISTRAZIONE NELLE SOCIETÀ QUOTATE

Until recently, listed companies were normally chaired by two different shapes of Chairman of the board. Usually shareholders were oriented to select a prestigious personality, sometimes entrusting to him management of institutional relations. Like an ambassador, more projected to the outside and committed to relations with shareholders and not so much involved in the business activity. At other times, on the contrary, it was very common that the Chair was also the CEO, often coinciding with the owner. Today such practices are still in use and very frequent, however the best practices of corporate governance are driving a significant change in the role of Chair.
More recently, in particular with the development of the corporate governance, in European countries (regardless to different adopted governance systems) there is a clear tendency towards distinction between directing, supervising and governing as a board function and managing the business of enterprise as management function. This structural evolution of good rules requires that the Chairman of the board should stand as the main "gear” for the proper coordination of the two poles, on one hand, implementing an ever greater maturity and depth of knowledge of the non-executive directors and, secondly, ensuring to prevent excessive concentration of power.