HOT LABOUR TOPICS – The director can waive his salary with a conclusive behaviour

Pubblicato da Giovannelli e Associati il 06/11/2019

With ruling n. 22802, 12^th September 2019 (see here the full text in Italian), the Supreme Court stated that a director’s tacit waiver of his salary can also be deduced from his conclusive behaviour.

Specifically, simultaneous and relevant conducts of the director must be considered in order to recognize – within the context of good faith and fair dealing – the tacit waiver of the director. Among other circumstances, the fact that, for almost twenty years, the director never asked about his salary was extremely relevant, considering he “should and could” made such request.

[For further details, please contact giuseppe.matarazzo@galaw.it]

Giovannelli e Associati advised MooRER S.p.A and the controlling shareholder Moreno Faccincani on the sale of a minority stake to Borletti Group

Giovannelli e Associati advised Neopharmed Gentili on the acquisition of Mdm

HOT LABOUR TOPICS – The director can waive his salary with a conclusive behaviour

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