Corporate bodies expiring and candidate selection process

On the basis of CDP’s internal procedures and of the provisions of the Minister of economy and finance’s directives of June 24th, 2013 and of January 31st, 2023, the List of companies directly and indirectly controlled with corporate bodies expiring in 2025, upon the approval of the financial statements as of December 31st 2024, is published on this page.
In view of the renewal of the corporate bodies included in the List, any interested person can apply by using the specific link provided below in this page.

Each candidate can apply for a maximum of three positions by the dates indicated for each company in the below List 2025.

Candidate selection process and criteria

In the search, selection and appointment of members of the corporate bodies of directly and indirectly owned companies, CDP adheres to specific principles, namely:

prior planning of activities;
use of transparent procedures;
reference to market best market practices, taking into account the peculiarities of CDP.

For optimal planning of activities, CDP publishes on its website:

by no later than January of each year
(i) the list of companies directly and indirectly controlled by CDP (with the exception of companies controlled by listed companies and those controlled by companies not subject to guidance and coordination) with bodies expiring during the year, and updates it if, during the year, changes occur;
(ii) the link to the software to which any candidates can send their applications for the positions referred to in the previous point, together with their curriculum vitae, in order to expand the search activities;
by no later than February of each year, the deadline for the submission of applications for each company in question.

The search and selection of candidates and verification that they meet the requirements for the position are carried out by CDP with the support of leading executive search companies.

The search and selection process of members of corporate bodies takes into account specific criteria, namely:

(i) prior verification for each candidate of the eligibility requirements provided for in the reference legislation for the specific company (including the requirements of professionalism, gender requirements, absence of grounds for incompatibility and conflicts of interest, compliance with the limits of accumulation of offices, etc.);
(ii) the qualitative and aptitude assessment of each potential candidate, also taking into account the candidates' possession of proven and qualified professional skills, as well as a number of positions compatible with the effective performance of the office, in relation to the size, complexity and specificity of the portfolio company in question and the business sector in which it operates;
(iii) balanced combination of gender, skills and professionalism, aimed at the appropriate overall composition of the body;
(iv) operating performance of the portfolio company in question, also in a Group perspective;
(v) the enhancement of the internal skills of the Group's employees - identified in compliance with the criteria indicated - for the assumption of the office of director, also in a Group logic. If appointed, CDP employees pay to CDP any remuneration recognized by the shareholders' meeting for the office of director pursuant to art. 2389, paragraph 1, of the civil code.

Each application is assessed both in relation to the characteristics of the individual candidate and in the broader perspective of the overall composition of the body, in consideration of the complexity and peculiarity of the portfolio company in question and the business sector in which it operates.

Within the scope of this process, the Appointments Committee:

(i) examines the need for renewal of the corporate bodies of portfolio companies on an annual basis;
(ii) verifies compliance with the principles, process and criteria concerning the search and selection of the members of said bodies;
(iii) expresses its prior and mandatory but non-binding opinion on the proposals for appointments made by the Chief Executive Officer before they are submitted to the Board of Directors;
(iv) reports to the Board of Directors on its activities.

List 2025

Company and shareholding percentage	Board of directors Candidates to be designated	Board of statutory auditors Candidates to be designated	Deadline for submission of applications	Shareholders’ meeting date
CDP Equity S.p.A. Direct shareholding 100% CDP	- 1 Chairman - 1 CEO - From 1 up to 5 directors	–	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
CDP Equity is an investment holding company with a scope similar to that one of CDP. It holds numerous direct and indirect stakes in companies operating in various sectors and markets (including Fincantieri, Saipem, Ansaldo Energia, Euronext, Open Fiber, Nexi, Webuild, Trevi Finanziaria Industriale, F2i SGR, Fondo Italiano d’Investimento SGR, and CDP Venture Capital SGR).
CDP Real Asset SGR S.p.A. Direct shareholding 70% CDP	- 1 Chairman - 1 CEO - From 3 up to 5 directors	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
CDP Real Asset SGR manages closed-end reserved real estate investment funds that support housing policies, the enhancement of public assets, and the growth of the tourism sector in Italy. Recently, it has also started managing infrastructure funds.
Simest S.p.A. Direct shareholding 76% CDP	- 1 Chairman - 1 CEO - 3 directors	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
Simest supports the growth of Italian companies through the internationalization of their activities, assisting them throughout the entire expansion cycle abroad. It operates through internationalization financing, export credit support, and equity participation in companies.
Fincantieri S.p.A. Indirect shareholding 71,34% through CDP Equity S.p.A.	According to the Company By-laws, the Board of directors is composed of 7 to 13 members, appointed by list voting. The total number of directors is determined by the shareholders' meeting. The number of directors provided for in the By-laws is drawn from the list that obtains the majority of votes.	–	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
Fincantieri operates in the design and construction of cruise ships, in the high-tech naval engineering sectors, as well as in ship repairs and conversions, in the production of systems and components for the mechanical and electrical sectors, in naval furnishing solutions, in electronic and software systems, in infrastructures, in maritime works, and in the provision of after-sales support services.
Ansaldo Energia S.p.A. Indirect shareholding 99,6% through CDP Equity S.p.A.	- 1 Chairman - 1 CEO - From 3 up to 7 directors	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company operates in the sector of plants and components for energy production and generation.
Fondo Italiano d’Investimento SGR S.p.A. Indirect shareholding 55% through CDP Equity S.p.A.	- 1 CEO - 6 directors	- 2 effective statutory auditors - 1 alternate auditor	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company’s purpose is (i) the provision of collective asset management services through the management of closed-end mutual funds for the support of business development and the management of related risks, as well as (ii) the provision of individual portfolio management services for professional clients.
CDPE Investimenti S.p.A. Indirect shareholding 77,12% through CDP Equity S.p.A.	- 1 Chairman - 1 CEO - 1 director	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company – previously named FSI Investimenti – is a holding company, established as an investment vehicle in 2014 between CDP Equity and Kuwait Investment Authority. To date, it holds the following portfolio investments: Valvitalia, Nexi, and Trevi Finanziaria Industriale.
CDP Immobiliare S.r.l. in liquidazione Indirect shareholding 100% through Fintecna	–	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company – currently subject to a winding-up procedure since May 24, 2023 – is involved in the enhancement of its real estate assets.
Consorzio Bancario SIR S.p.A. in liquidazione Indirect shareholding 100% through Fintecna	–	- 3 effective statutory auditors, including Chairman - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company, currently subject to a winding-up procedure, was established as a consortium company pursuant to Law No. 787 of December 5, 1978, has as its object the subscription and sale of shares and convertible bonds issued by SIR-Finanziaria S.p.A. and the companies controlled by it.
Snam S.p.A. Indirect shareholding 31,35% through CDP Reti S.p.A.	According to the By-laws, the Board of directors is composed of 5 to 9 members appointed by list voting. The total number of directors is determined by the shareholders' meeting. Seven-tenths of the directors to be elected are drawn from the list that obtains the majority of votes.	- 2 effective statutory auditors - 2 alternate auditors	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
Snam is mainly involved in regulated or unregulated activities of gas transportation, dispatching, distribution, regasification, liquefaction, processing, and storage. It also operates in the energy transition sector. The company does not fall within the scope of the directive of the Minister of Economy and Finance of January 31, 2023, as it is subject to the unbundling regulations, however, it is published for reasons of convenience, as it is a listed company de facto controlled by CDP.
Italgas S.p.A. Indirect shareholding 25,98% through CDP Reti S.p.A.	According to the By-laws, the Board of directors is composed of 9 members appointed by list voting, of which 7 are drawn from the list that obtains the majority of votes.	- 2 effective statutory auditors - 1 alternate auditor	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
Italgas manages, directly or through its subsidiaries, a natural gas distribution network. The company does not fall within the scope of the directive of the Minister of Economy and Finance of January 31, 2023, in consideration of the unbundling regulations, however, it is published for reasons of convenience, as it is a listed company de facto controlled by CDP.
Holding Reti Autostradali S.p.A. Indirect shareholding 51% through CDP Equity S.p.A.	- 1 Chairman - 1 CEO - 2 directors	–	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company holds and manages the majority stake in the share capital of Autostrade per l’Italia S.p.A. The company does not fall within the scope of the directive of the Minister of Economy and Finance of January 31, 2023, as it is not solely controlled by CDP pursuant to the shareholder’s agreement currently in force, however, it is published for reasons of convenience, since CDP holds more than 50% of the share capital.
Autostrade per l’Italia S.p.A. Indirect shareholding 88,06% through Holding Reti Autostradali S.p.A.	- 1 Chairman - 1 CEO - 4 directors	–	09 March 2025	Shareholders’ meeting date to be defined – Within legal terms.
The company is engaged, through concession, in the construction and management of toll highways. The company does not fall within the scope of the directive of the Minister of Economy and Finance of January 31, 2023, as it is not solely controlled by CDP pursuant to the shareholder’s agreement currently in force, however, it is published for reasons of convenience, since CDP holds more than 50% of the share capital.

To consult the 2024 list click here: 2024 List