Good governance pays off, but Italian companies often realize it too late. This is what emerges from the Corporate Governance Lab’s Osservatorio Imprese at SDA Bocconi, conducted with the support of Banca Generali and PwC Italy. 

The Corporate Governance Lab at SDA Bocconi gathered partners, companies, professionals, and alumni in an event that confirmed how advanced governance is today a tangible lever for performance and transformation in Italian companies. 

The State of Governance in Italy 
The day opened with the presentation of the research results of Osservatorio Imprese, which monitors Italian companies with revenues exceeding €50 million. With over 2,000 companies analyzed, the research, introduced by Alessandro Minichilli, Lab Director, highlighted signals of change but also critical areas requiring intervention. 

Key findings include: small board sizes; limited openness to external directors, particularly in family-owned businesses; and gender diversity, with fewer than half of companies including at least one woman on the board. The analysis of leadership models and their impact on strategic and financial performance was particularly significant. Generational renewal also emerged as an enabling factor: companies led by younger leaders achieve better results and greater investment capacity in the first years of their mandate. 

Despite the proven relationship between solid governance structures and better economic outcomes, Italian companies tend to strengthen their governance only in times of crisis or significant organizational stress. 

Governance that evolves with companies 
In the second part of the event, a roundtable with entrepreneurs and CEOs – including Da Vittorio, GMM Farma, Locauto Group, and Tesya Group – shared firsthand experiences on succession, cultural change, and evolving governance models. Several speakers emphasized the need to structure governance as companies grow, integrating outsiders and vertical expertise. 

A common insight emerged strongly: governance cannot be static but must evolve with the business. Board diversity, proper generational succession, genuine delegation to structured C-level executives, and openness to innovative models are essential factors to support growth, innovation, and competitiveness. 

Governance Day: Building a Community Across Research, Education, and Practice.

The value of Governance Day extended beyond content: the event highlighted the strong connection between academic research, education, and practical experience, creating a community that learns, reflects, and grows together.