Corporate Governance

Sustainability, comfort and accessibility at the centre of all we do.
Paolo Merloni, Executive Chairman


2017 was a very positive year for our Group. We grew globally, improving in efficiency and productivity, continuing our commitment to research and development and offering a more comprehensive range of products and services. The foundation for our future growth lies in the strength of our brands and these are becoming increasingly well-known around the world. The Group also grew through new acquisitions, including HTP in the US – which consolidated our presence in North America after acquiring the Canadian company NTI in 2016 – and the Israeli company Atmor, which brought distinctive skills in instantaneous electric water heaters.

The governance system

Effective risk management, integrated into the governance system, is a key factor to protecting the Group’s value over time. The Group’s Internal Control System has therefore been gradually expanded, drawing inspiration from, among other sources, the principles laid down in Article 7 of the Corporate Governance Code for Listed Companies promoted by Borsa Italiana, to the extent applicable. The corporate organisation thus consists of management committees and/or internal committees within the Board of Directors of Ariston Thermo SpA, organised as follows:
Francesco Merloni non-executive   21.07.1986
Paolo Merloni executive A*, B 28.04.1997
Laurent Jacquemin executive   24.03.2017
Sara Dethridge non-executive / independent   03.05.2018
Andrea Guerra non-executive / independent A 07.05.2012
Roberto Guidetti non-executive / independent B 29.01.2014
Maria Francesca Merloni non-executive   24.09.2008
Gianemilio Osculati non-executive A 04.05.2007
Paolo Tanoni non-executive   11.01.2002
Marinella Soldi non-executive / independent B* 05.05.2016
Enrico Vita non-executive / independent A 03.05.2018
* Committee Chairman
A - Strategic
B - Human resources and Remuneration


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