Board of Directors

Athena has a two-tier executive management structure consisting of a Board of Directors and the Management. The Management of the Company is responsible for the day-to-day management of the Group. It reports to the Board of Directors, who is responsible for the overall management of Athena.

The Board of Directors determines strategies, action plans, goals and budgets. In addition, the Board of Directors sets out the framework for financial and market risk management and controls the Management’s work and the Company’s procedures and responsibilities, policies, etc.

Composition and skills of the Board of Directors

Athena focuses on having a Board of Directors that is able to inspire and support the Company’s Management through a relevant and differentiated composition of skills. Hence, some of the most relevant competencies in relation to the Company’s activities are within energy, utility, renewable energy, financing, environment and hydro. The current Board of Directors represents a differetiated composition of skills and has considerable expertise within these areas.
At future elections of new board members, Athena will publish a detailed description of the persons together with the notification of the general meeting.
New members of the board will receive a thorough presentation of the Company and the Board of Directors will regularly consider potential supplementary updating, if so required.
The Board of Directors of Athena consists of seven members who are all elected by the general meeting. The size is considered to be appropriate in order to maintain a differentiated composition of skills and experience. Luca Rovati, Alessandro Rovati and Sigieri Diaz della Vittoria Pallavicini are considered as non-independent board members as they represent the major shareholder of Athena Investments A/S. The remaining four board members are considered independent with no special interests in the Company, except as shareholders.
No board members are elected by the employees as the parent company Athena Investments A/S has not yet met the requirement of having more than 35 employees.
The Board of Directors focuses on each member being able to deliver the commitment and the work that is required to have a professional and dynamic Board of Directors. A few of the board members have more directorships than stated in the corporate governance recommendations but the Board of Directors does not believe that this constitutes a limit to their commitment to Athena.
The board members are up for election every year.