Tenaris’s Board of Directors Provides Full Support to its Chairman and Chief Executive Officer and two other Directors
February 14 2020 - 3:58PM
Tenaris S.A. (NYSE, Mexico: TS and MTA Italy: TEN) today issued the
following statement:
Tenaris has been advised that the Italian court
overseeing the investigation into alleged improper payments made in
Brazil for the supposed benefit of Confab Industrial S.A., a
Brazilian subsidiary of the Company, has decided to move the case
to trial. The case involves Chairman and Chief Executive
Officer Paolo Rocca and Board members Gianfelice Rocca and Roberto
Bonatti, and the Company’s controlling shareholder, San Faustin
S.A.
The Company’s outside counsel previously
reviewed the Italian prosecutors’ investigative file and has
informed the Board that neither that file nor this magistrate’s
decision sets forth evidence of involvement by any of the three
directors in the alleged wrongdoing. Accordingly, the Board
has concluded that no particular action is warranted at the present
time, other than inviting the referred board members to continue
discharging their respective responsibilities with the full support
of the Board.
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Giovanni Sardagna
Tenaris1-888-300-5432www.tenaris.com
Tenaris (NYSE:TS)
Historical Stock Chart
From Apr 2024 to May 2024
Tenaris (NYSE:TS)
Historical Stock Chart
From May 2023 to May 2024