Press release

IFI - IFIL - IFIL: new appointmentsFebruary 07, 2006

The board of directors of IFIL, which met today in Turin under the chairmanship of
Gianluigi Gabetti, voted on the composition of the board and new appointments.
The board first took note of the resignation of the director Pietro Ferrero who
relinquished his office on account of his numerous and mounting professional
commitments and thanked him for the activities conducted on behalf of the company.
The board of directors then appointed Carlo Sant'Albano as general manager and
coopted him as director of the company, appointing him to the position of CEO. Carlo
Sant’Albano was also elected to IFIL’s Executive Committee.
At the same time, Gianluigi Gabetti relinquished the post of president of IFIL but kept
that of chairman.
Furthermore, Tiberto Brandolini d’Adda and John Elkann, both members of the
Executive Committee of the company, were appointed vice chairmen of IFIL.
The director Giuseppe Recchi was appointed a member of the Compensation and
Nominating Committee to replace the resigning director Pietro Ferrero.
Lastly, the board took note of the appointment of Enrico Vellano as the head of finance
of IFIL.
In commenting on today’s appointments, Gianluigi Gabetti stated: “I am confident that
my health will allow me to continue to actively carry out my functions. However, I do
believe that the time has come to fulfill that gradual program for the delegation of
responsibility which I spoke of some months ago. Therefore, besides the appointment of
Carlo Sant’Albano, I have proposed that the board of directors appoint Tiberto
Brandolini d’Adda and John Elkann, who have demonstrated their capabilities on
numerous occasions, as vice chairmen of the board. Both vice chairmen will have the
express mandate to assist the CEO in identifying and evaluating new investment

Carlo Sant’Albano
Carlo Sant’Albano was born in Turin in 1964, is married and the father of
two children.
Carlo Sant’Albano has lived abroad since infancy: first in Columbia and
Brazil and later in Scotland where he attended Gordonstoun School.
After receiving a Bachelor of Arts degree in International Relations at
Brown University, he completed his studies with a MBA from Harvard
Business School.
Following a first job experience in New York at Drexel Burnham Lambert,
Mr Sant’Albano went on to a career in the world of finance, working
chiefly in the field of investment banking in Latin America at Bear Stearns
& Co., then at the mergers and acquisitions group of Credit Suisse First
Boston of New York.
After moving to London in 2001, he was first head of M&A for the
pharmaceuticals sector in Europe and then, in 2004, became chief operating
officer for all M&A operations in Europe.
He speaks five languages: Italian, English, French, Portuguese and Spanish.

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