Uboldo (Varese), 23 January 2023 – LU-VE S.p.A. Board of Directors has met today, to take the decisions consequent to the passing of the mourned President, Mr. Iginio Liberali, on December 22 nd, 2022, communicated to the market with press release on the same date.

The Board of Director has deemed irreplaceable the unvaluable human and professional worth of Mr. Iginio Liberali, as well as his competences on the business and commercial dynamics.
However, his passing does not affect neither the functionality of the actual Board of Directors and of its internal committees (of which Mr. Liberali was not a member), nor the lawfulness of the composition of the Board, in relation to the provision of the Articles of Association and of law (independence and gender balance).

The Board has therefore decided, at the proposal of the Remunerations and Appointments Committee, and with the consent of the Board of Statutory Auditors, not to substitute Mr. Iginio Liberali with any new member. Any decision has been reserved to the Shareholders meeting, to be held next April, which shall also decide on the renewal of the current Board of Directors, whose appointment expires with the approval of the Balance Sheet as at December 31 st, 2022.

The Board of Directors has appointed the CEO, Mr. Matteo Liberali, as the new Chairman of the company upon the expiry of the current Board of Directors, maintaining all powers already granted to him, which remain unchanged.

As a consequence of the above, the Board of Directors of LU-VE is now as follows:

• MATTEO LIBERALI, Chairman and Chief Executive Officer (CEO)
• PIER LUIGI FAGGIOLI, Deputy Chairman
• MICHELE FAGGIOLI, Chief Operation Officer(COO)
• RAFFAELLA CAGLIANO, independent member
• GIUSEPPE GUIDO CRESPI, independent member
• ANNA GERVASONI, independent member
• FABIO LIBERALI, non executive member
• LAURA OLIVA, non executive member
• STEFANO PALEARI, independent member (Lead Independent Director)
• ROBERTA PIERANTONI, non executive member
• MARCO CLAUDIO VITALE, non executive member.

Matteo Liberali has declared: “I wish to thank the Board for its trust in me. I accept the new appointment at the service of the Group and in the name of continuity. My father loved to define himself as the “gardener of dreams”, and he dreamed of many things and achieved many of them. His teachings and the values he left us will be my guidance: the humility to keep learning to keep growing, the passion for life and for his work and his thought, always positive and always projected towards the future”.