The Governance and Sustainability Committee advises the Board and acts under authority delegated to it by the Board with respect to: [...] Monitoring, evaluation and reporting on the sustainable policies and practices, management standards, strategy, performance and governance globally of the Group and its subsidiaries; and Reviewing the annual Sustainability Report of the Group before Board approval and reviewing any governance-related public disclosures. [...] In 2023, the Governance and Sustainability Committee consisted of Mr. Michele Norsa (Chairman), Mr. Ronald B. Johnson and Ms. Angelica Cheung. [...] In the field of sustainability, the Governance and Sustainability Committee reviewed the Sustainability Report, notably in the light of applicable standards such as GRI and SASB reporting standards and TCFD framework. It also reviewed the governance sections of the annual reports. The Governance and Sustainability Committee advised the Board for the review of the Group Diversity, Equity & Inclusion policy, the appreciation of the diversity targets and the deployment of the supporting initiatives. It reviewed and advised on the succession planning for top management. The Governance and Sustainability Committee was regularly informed about the Group's climate strategy and more in general on the Group's ESG performance vs. its commitments. In this regard, it supported the deployment of brand-specific strategies, designed to fit each brand's business specificity. The Committee was educated on the latest ESG requirements, the evolution of the ESG legal landscape and the Groups' readiness to face the most critical changes. [...] Due to the relevance of sustainability as part of the Group's strategy (with new sustainability projects being initiated by the Group) two managerial committees were also established in 2022: Strategic Sustainability Committee and Operational Sustainability Committee. The Strategic Sustainability Committee acts as a think-tank to identify new sustainability risks and opportunities, best practices and paths for innovation with a view to long-term value creation. It monitors industry and global trends in the field of sustainability. The Operational Sustainability Committee is in charge of designing, implementing and monitoring progress of initiatives and projects created under the stimulus of the Strategic Sustainability Committee. These two managerial committees are composed of permanent members, chosen among CEO direct reports and other employees directly involved in the management and development of the Group sustainability strategy. Other internal or external experts in sustainability strategy are also invited to join the meetings of these managerial committees from time to time.