Corporate governance policies

Parmalat and its corporate governance bodies follow the principles of correct corporate and enterprise management, as well as the rules of self-government issued by Borsa Italiana S.p.A. and those set forth in the Group’s Code of Conduct and in the Code of Ethics.

Code of Conduct

In particular, Parmalat is committed to complying with the rules stated in the Italian Self-Disciplined Code for Listed Companies, which is adopted on a voluntary basis. The first version of the Self-Disciplined Code was released in 1999 (Preda Code) and revised in 2002. In March 2006, the new Corporate Governance was passed. The new amended code covers several areas, including the internal control system, the Internal Control Committee and the Board of Auditors, Directors’ interests, transactions with related parties, shareholder relations, corporate governance reporting and alternative administration and control systems.

Code of Conduct (109 Kb)

Additional information about the Corporate Governance rules followed by the Italian companies can be found on the Borsa Italiana website.

Code of Ethics

Parmalat’s Code of Conduct is part of the ethical principles and values defined in the group’s Code of Ethics. The Code of Ethics has been prepared to ensure that the values of the Parmalat Group are clearly defined, to provide a solid foundation for the Group’s corporate culture and to establish standards of behaviour for all Group Associates in business transactions and other activities.

The Code of Ethics covers four areas: the Group’s Mission, the Principles of Ethics, the Rules of Conduct and the Implementation Rules.

Parmalat’s Code of Ethics (509 Kb)

Legislative decree no. 231/2001

Legislative decree no. 231 of 8 June 2001 (the Decree) introduces, for the first time in the Italian legal system, the concept of the administrative liability of legal persons, companies and associations, also without legal status (the bodies).

It consists of a new and more extensive form of liability that affects bodies for offences committed, in their interest or to their advantage, by persons who have a working relationship with them (personsin apical positions and persons managed and supervised by them).

Organisation, Management and Control Model (384 Kb)