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Governance

MM’s corporate governance system consists of the Board of Directors and the Board of Statutory Auditors.

The company has two bodies appointed by the Shareholders’ Meeting, one administrative and one supervisory, whose members serve for three fiscal years.

In 2022, the Shareholders’ Meeting decided to appoint a Chief Executive Officer, instructing the Board of Directors to grant him or her broad management and organizational powers.

The Chairman and Board members are appointed by the City of Milan through a public call for applications.

Board of Directors

MM values complexity as a resource, promoting a model of widespread and shared responsibility, in which innovation, service and participatory management are integrated to respond effectively and transparently to the needs of the community. An organization that thinks like the city

Elio Maria Franzini

Chairperson

Since June 25, 2025, he has been president of MM S.p.A.

Throughout his academic career, he has held several important positions: he was the President of the Bachelor of Arts in Communication Sciences, Dean of the Faculty of Humanities, Pro-rector of Planning, Coordinator of CRUL, the Regional Committee of Lombard Rectors, and, from 2018 to 2024, Rector of the University of Milan.

In addition to his university activities, he has served on ministerial committees on university education and the evaluation of scientific and technological research, and has been a member and director in publicly held companies and foundations. He is a member of several scientific and cultural committees, including the Istituto Lombardo di Scienze, Lettere e Arti and the Fondazione Corrente, whose Scientific Committee he chairs.

A philosopher by training, he graduated in Theoretical Philosophy from the University of Milan, where he is now full professor of Aesthetics.

We design sustainable cities and provide services to citizens and city users

MM values complexity as a resource, promoting a model of widespread and shared responsibility, in which innovation, service and participatory management are integrated to respond effectively and transparently to the needs of the community. An organization that thinks like the city.

We design sustainable cities and provide services to citizens and city users

Francesco Mascolo

CEO

Since September 30, 2022, he has been Chief Executive Officer of MM SpA.

He has about 10 years’ experience in publicly held companies, having served from 2020 to 2022 as general manager of ANM, Azienda Napoletana di Mobilità and from 2014 to 2020 as general manager of Asia Napoli SpA, a municipalized company operating in the environmental hygiene services sector.

Before joining the multi-utility world, he had gained many years of experience in multinational companies in various industries, from automotive (CNH, Comau) to household appliances (Indesit and Candy) to consumer goods (Fater JV P&G).

He graduated in Aeronautical Engineering from the University of Naples Federico II, holds a master’s degree in Business Administration from Bocconi University in Milan and a master’s degree in Circular Economy Management from Luiss Business School.

Board of Directors

Pier Carla Delpiano

BoD

Marco Plazzotta

BoD

Maria Chiara Roti

BoD

Board of Statutory Auditors

Vittorio Grazi

Chairperson

Ilaria Moretti

Statutory Auditor

Andrea Parolini

Statutory Auditor

Committees

Three special Committees meet periodically or on specific need to analyze the progress of activities and performance of different business areas. any issues that have arisen and to decide what action to take.

Necessary to oversee the evaluation activities of investment proposals made on autonomous corporate initiative and having significant amounts in terms of alignment with corporate parameters of profitability and risk profile.

It is responsible for following up, with propositional and control functions, public contracts for works, services and supplies, as defined by the Public Contracts Code, which MM entrusts to third parties as Principal both in the preparatory phase of the awarding and in the execution phase of the contract.

The committee is particularly concerned with :

  • Coordinate and verify technical, legal and economic-financial aspects.
  • Comply with regulatory provisions as well as the Board of Directors and company procedures.
  • Formulate proposals for submission to the relevant decision-making bodies.
  • Verify the correctness and completeness of the documentation provided to the relevant decision-making bodies.

The activities of the CTIA are governed by special regulations approved by the Board of Directors, which define its composition and mode of operation.

It is the only endo-advisory committee present in MM established by resolution of the Board of Directors with the task of supporting, through the performance of preparatory activities, the evaluations and decisions of the administrative body that concern the internal control system, risk management and sustainability.

Main duties of the CCRS:

  • Esaminare il contenuto dell’informativa non finanziaria rilevante ai fini del sistema di controllo interno e gestione dei rischi.
  • To express opinions on specific issues related to the identification of major business risks and to support the Board’s assessments and decisions related to risk management.
  • Review periodic reports prepared by the internal audit function and entrust it with conducting audits of specific operational areas.
  • Report to the BoD on the activities carried out and the adequacy of the internal control and risk management system.

Find out about the organization

Find out the complete list of all management; the resumes, emoluments and term of office of members of the Board of Directors and Board of Statutory Auditors; and the corporate structure and organizational chart.