INDESIT | 2012

On May 4, 2012, in Fabriano, Etica Sgr has participated for the eighth consecutive year to the Indesit shareholders meeting.
Etica Sgr voted in favour of all agenda items, abstaining from voting on remuneration policy of 2011, as it believes that there should be more detailed variable compensation indicators and wondering the introduction of new health and safety indicators and parameters related to the environmental performance for the CEO and the Management.
Etica Sgr led the shareholders’ attention on corporate responsibility aspects. The Board of Directors’ Chairman, Mr Andrea Merloni replied clearly and transparently to all Etica’s requests, expressing appreciation for the assistance of Mrs Viscovi, Etica Sgr CEO.
Etica Sgr appreciated the continued commitment and the deep attention shown by the Company about the disclosure of the Sustainability Report, which reached, this year, the maximum coverage of the Global Reporting Initiative indicators obtaining the highest standard, that is A+, asking for the publishing it just before the shareholders meeting. Mr Merloni promised that the Company will put greater efforts on it.
In a such a difficult moment for the Italian and European economies, which is having significant repercussions in terms of employment, Eitca Sgr invited the Company to pay particular attention to issues concerning the stability of the job, asking for information about the relocation of workers of Brembrate and Refrontolo’s plants, closed in 2011 and the delicate situation of None plant, which the Company wants to close. So Mr Merloni explained the Company relocation policy; in the Brembrate’s case, for example, the percentage of people relocated is the 80% and, in any case, the responsibility of the company in the development of the agreements undertaken has never been lacking. With regard to None, the President reported the imminent appointments with the social partners in Turin.
Finally, Etica Sgr, considering the declining operating results compared to 2010, would have preferred to keep a larger part of the net profit in the Company instead of giving it to shareholders as dividends. In Mr Merloni’s opinion this decision was taken to give a positive signal about the stable future and continuity of the Company.

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