Governance

Il sistema di corporate governance di MM si compone del Consiglio di Amministrazione e del Collegio Sindacale.

The Company shall have two bodies appointed by the Shareholders’ Meeting: an administrative body and a supervisory body, the members of which shall hold office for three financial years.

In 2022, the General Meeting decided to appoint a Chief Executive Officer, instructing the Board of Directors to grant him broad powers and authority in matters of management and organisation.

The Chairman and the members of the Board of Directors are appointed by the Municipality of Milan following a public call for applications.

Board of Directors

MM views complexity as an asset, promoting a model of widespread and shared responsibility in which innovation, service and participatory management come together to respond effectively and transparently to the needs of the community. An organisation that thinks like the city

Elio Maria Franzini

Chairperson

He has been Chairman of MM S.p.A. since 25 June 2025.

During his academic career, he has held a number of prominent positions: he has served as Head of the Communication Sciences degree programme, Dean of the Faculty of Arts and Philosophy, Vice-Rector for Academic Planning, Coordinator of the CRUL (Regional Committee of Lombardy Rectors) and, from 2018 to 2024, Rector of the University of Milan.

In addition to his academic work, he has served on ministerial committees on university education and the evaluation of scientific and technological research, and has been a member and director of publicly owned companies and foundations. He is a member of various scientific and cultural committees, including the Lombard Institute of Science, Letters and Arts and the Corrente Foundation, where he chairs the Scientific Committee.

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



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

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

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

Francesco Mascolo

CEO

He has been Chief Executive Officer of MM SpA since 30 September 2022.

Vanta un’esperienza di circa 10 anni in aziende a partecipazione pubblica, essendo stato dal 2020 al 2022 Direttore Generale di ANM, Azienda Napoletana di Mobilità e dal 2014 al 2020 Direttore Generale di Asia Napoli SpA, municipalizzata operante nel settore dei servizi di igiene ambientale.

He has around 10 years’ experience in publicly owned companies, having served as General Manager of ANM (Azienda Napoletana di Mobilità) from 2020 to 2022 and as General Manager of Asia Napoli SpA, a municipal company operating in the environmental hygiene services sector, from 2014 to 2020.Prima di entrare nel mondo delle multiutility, aveva maturato pluriennale esperienza in multinazionali di vari settori industriali, dall’automotive (CNH, Comau), alle household appliances (Indesit e Candy) ai beni di largo consumo (Fater JV P&G).

He graduated in Aeronautical Engineering from the University of Naples Federico II, and went on to obtain 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

Cecilia Garattini

Standing auditor

Andrea Parolini

Standing auditor

Committees

Three dedicated committees meet regularly or as and when required to review the progress of operations and the performance of the various business units, to address any issues that have arisen, and to decide on the appropriate course of action.

This is necessary to oversee the assessment of investment proposals put forward on the company’s own initiative and involving significant sums, in terms of their alignment with the company’s profitability and risk profile parameters.

Its role is to monitor public works, services and supply contracts – as defined in the Public Contracts Code – which MM awards to third parties in its capacity as the contracting authority, both during the preparatory phase prior to the award and during the contract execution phase.

The committee is responsible in particular for:

  • Coordinate and review the technical, legal and financial aspects.
  • Comply with legal requirements, as well as the directives of the Board of Directors and company procedures.
  • To draw up proposals for submission to the relevant decision-making bodies.
  • Check that the documentation provided to the relevant decision-making bodies is correct and complete.

The activities of the CTIA are governed by specific regulations approved by the Board of Directors, which set out its composition and operating procedures.

It is the only internal committee within MM established by a resolution of the Board of Directors, tasked with supporting – through preparatory work – the assessments and decisions of the Board regarding the internal control system, risk management and sustainability.

Main responsibilities of the CCRS:

  • Review the content of the non-financial disclosure relevant to the internal control and risk management system.
  • To provide opinions on specific aspects relating to the identification of the company’s main risks and to support the Board of Directors’ assessments and decisions regarding risk management.
  • Review the periodic reports prepared by the internal audit function and instruct it to carry out audits of specific operational areas.
  • Report to the Board of Directors on the work carried out and on the adequacy of the internal control and risk management systems.

Find out about the organization

View the full list of all management personnel; the CVs, remuneration and terms of office of the members of the Board of Directors and the Board of Statutory Auditors; the corporate structure and the organisation chart.