LensCrafters 2013 Annual Report Download - page 60

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18
the Board of Directors of Carraro S.p.A. and Interpump Group S.p.A., Parmalat S.p.A., as
well as Chairman of the Board of Statutory Auditors of Indesit Company S.p.A.
To assess the maximum number of positions a Director of the Group may hold as a director
or an auditor in other companies listed on regulated markets, in financial companies, banks,
insurance companies or other companies of a significant size, the Company implemented the
following criteria:
MAXIMUM NUMBER OF APPOINTMENTS AS DIRECTOR OR AUDITOR IN OTHER
COMPANIES
Listed companies, financial companies, banks, insurance companies or
companies of a significant size
Executive role 3 + LUXOTTICA
Non-executive
role 9 + LUXOTTICA
For the purpose of multiple appointments, (i) the only positions to be taken into consideration
are those as member of the Board of Directors or auditor for companies listed on regulated
markets (domestic and foreign), in banks, insurance companies, or companies of a significant
size, which are defined as companies with a total value of business or revenues exceeding
Euro 1,000 million (hereinafter, “Large Companies”), (ii) the appointments by one or more
Large Companies belonging to the same group, including Luxottica Group, are counted as
one, whereby the appointment requiring the most significant commitment (i.e. the executive
role) shall be considered the prevailing one.
The appointments held by the members of the Board of Directors in other companies, in
compliance with the criteria indicated above, are compatible with the appointment in
Luxottica Group. With regard to the Chairman, please note that he serves four relevant roles
pursuant to the above-mentioned criteria. However, after taking into consideration the fact
that he does not enjoy any managing powers in the Company and that his role in Beni Stabili
S.p.A. is directly related to his role in Fonciere des Regions, the Board agreed that such
appointments were compatible with his role in Luxottica Group.
The members of the Board of Directors possess the required professionalism and experience
to perform their role effectively and efficiently.
It should be noted that neither the Company by-laws, nor any board resolutions, have
authorized, generally or conditionally, any derogations from the non-competition clause.