EI Towers’ Corporate Governance consists of the set of rules and procedures which embody the system for managing and controlling the Company.

The organization of EI Towers, based on the traditional administration and controls system, consists of the following company bodies: the Shareholders’ Meeting, the Board of Directors and the Board of Statutory Auditors.

Board of directors

The Board of Directors, appointed by the Shareholders’ Meeting on April 15, 2021, consists of ten members and will remain in office until the approval of the financial statements as at December 31, 2023. The Board is vested with all the broadest of powers for the ordinary and extraordinary management of the Company. The Board of Director is composed as follow:

Simone Sole
Vice – Chairman

Fabio Albano

Paolo Bugini

Marco Mezzetti

Mauro Miglio

Luigi Motta

Board of statutory auditors

The Board of Statutory Auditors, appointed by the Shareholders’ Meeting on April 15, 2021, consists of five members and will remain in office until the approval of the financial statements as at December 31,  2023. The Board of Statutory Auditors is composed as follow:

Marco Armarolli


Massimo Trotter
Effective Auditor

Roberto Cassader
Effective Auditor

Share capital structure

EI Towers’ share capital is Euro 2,826,237.70 fully subscribed and paid in, represented by 28,262,377 shares of no fixed nominal value.

Class of shares
% on share capital
Class A shares
F2i TLC 2 S.p.A.
Class B shares
MFE – MediaForEurope N.V.

Shareholders structure

The chart on the side represents the current control structure of EI Towers.


The bylaws define the primary characteristics of the company as well as the principal rules for the company’s organization and operation. They describe the governance system adopted by the company and also outline the fundamental criteria for the composition and division of the powers attributed to corporate bodies as well as the relationships between such bodies. More specifically, by supplementing provisions of the law, the bylaws outline the criteria and the procedures for identifying the parties which contribute, at the highest level, to the management and control of the company. The bylaws also describe the rights accruing to shareholders, the means for exercising such rights and they may be modified by means of a resolution of the extraordinary shareholders’ meeting.


Code of Ethics

Like other leading national and international groups and companies, EI Towers Group has adopted a code of ethics that defines all of the values that the EI Towers Group recognizes, adopts and shares, at all levels, in the exercise of its business activities. The principles and provisions of the Code of Ethics provide specific examples of the general duties of diligence, honesty and fairness that characterize the performance of work and behavior in the workplace. The principles and provisions of the Code of Ethics are binding on the directors, all persons bound by a contract of employment with the EI Towers Group, and all those who work for the Group, regardless of the relationship that links them.

Code of Ethics

Anti-bribery Policy

The Board of Directors of EI Towers approved the Anti-bribery Policy of the Company on March 28, 2024. The Policy aims to strengthen awareness of the potential risks of bribery to which the Group’s business is exposed and instill a sense of responsibility in all the Subjects regarding correct management of relationships with subjects internal or external to the Group, whether public or private.

Anti-bribery Policy

Organizational Model

The Board of Directors of EI Towers approved the Organizational, Management and Control Model of the Company on October 31, 2012. This version has been updated most recently by resolution of the Board on July 27th, 2023. EI Towers’ objective in adopting its Model is to introduce a series of general conduct principles and procedures that are in accordance with Legislative Decree 231/2001 both in terms of the prevention of the illegal conduct and administrative offences referred to in the Decree and in terms of checking that the Model is implemented and that any eventual sanctions are enforced.

Organizational Model


EI Towers Group has adopted a Whistleblowing Procedure which defines the management process for whistleblower reports of violations and irregularities, also alleged, in respect of applicable laws and regulations, the provisions of the Code of Ethics of EI Towers Group, the Organisational, Management and Control Model pursuant to Legislative Decree 231/2001 and current corporate policy and Organisational Guidelines. The aim of the Procedure is to provide guidelines for submitting and managing whistleblower reports, and to ensure that operating activities are performed comply with law and professional, fairness and confidentiality principles.


How whistleblowers can report:

The report may be carried out via:

  • internal company channel:
    • on a reserved IT platform provided at URL (preferred channel);
    • sending a confidential and protected letter that bears outside as subject “Confidential Whistleblower Report” addressed to: EI Towers S.p.A. Via G. Zanella 21, 20851, Lissone (MB), for the attention of the Supervisory Board;
    • requesting to Supervisory Board a face-to-face meeting with one of the above methods or by email sent to the email address with the subject “Request to meet for Confidential Whistleblower Report”.
  • only subject to the conditions, expressly set out by the law, via external channel (National Anti-Corruption Authority, ANAC) provided at URL or with public disclosure.