In particular, the Board of Directors: _ examines and approves in general terms the strategic business and financial plans of the Company and the Group presented by the CEO, and regularly monitors their implementation; _ examines and approves the Company’s corporate governance and the Group structure; _ defines the guidelines for the internal control and risk management system, with the assistance of and as directed by the competent Committee, determining to what extent risks are compatible with a style of management that is consistent with the strategic objectives identified; it assesses, on at least an annual basis, the appropriateness of this system in relation to the Company’s characteristics and risk profile, as well as the system’s efficiency; _ approves, on at least an annual basis, the work plan prepared by the Head of Internal Audit, after consultation with the Board of Statutory Auditors and the director responsible for the internal control and risk management system; _ appoints and removes the Head of Internal Audit, on the proposal of the director responsible for the internal control and risk management system, and subject to the favourable opinion of the Control and Risks Committee and after consultation with the Board of Statutory Auditors.