Participation of Studio Locatelli & Associati and M&L Consulting Group at Industria Felix, Rome, 15.10.2025: ESG and Governance in Focus

Rome, 15 October 2025 — On the occasion of the 66th National Ceremony of the Premio Industria Felix – L’Italia che compete, Dr. Valerio Locatelli, Managing Partner of Studio Locatelli & Associati, Tax Consultants in Milan, and Partner & Co-Founder of M&L Consulting Group, delivered an in-depth contribution on the topic “Corporate reorganizations and ESG: guiding change to attract capital and foster growth.”

This special edition of the Industria Felix Award — the first national edition entirely dedicated to ESG practices — focused on corporate best practices and ESG vision, highlighting the growing importance of environmental, social, and governance factors within the Italian business landscape.

In his speech, Dr. Locatelli emphasized how companies, throughout their lifecycle, often face strategic milestones — M&A transactions, the entry of new investors, generational transitions — which require a solid corporate structure, clear governance, and consistent tax planning.

“Too often,” he noted, “these moments are approached with improvised structures, risking both the company’s valuation and the successful outcome of extraordinary transactions.”

Corporate reorganization, when planned in advance, represents a strategic driver of growth: by making the corporate group more transparent to investors and financial institutions, it facilitates business continuity during generational transitions and creates the conditions for more competitive access to the capital market.

Particular emphasis was placed on the establishment of a holding company, a key tool for the management and coordination of shareholdings. This structure allows companies to obtain significant tax advantages, including the application of the PEX regime, the option for tax consolidation, and the creation of a VAT group.

Dr. Locatelli also reminded the audience that a well-structured reorganization enables the optimization of the tax burden during generational transfers, thanks to the reliefs provided under the Consolidated Law on Succession and Donations, which exempts the transfer of shareholdings to descendants and spouses from inheritance and gift tax, subject to specific control and continuity requirements.

In closing, he stressed that the combination of tax efficiency, transparent governance, and the integration of ESG criteria today represents a cornerstone of corporate competitiveness.

“Corporate reorganization,” he stated, “is not merely a technical exercise, but a strategic step capable of aligning taxation, sustainability, and growth. It means preparing the company to compete with modern tools, turning change into a real opportunity for development and continuity.”

Following this, Dr. Giancarlo Marengo, Professional at Studio Locatelli & Associati, took the floor and highlighted corporate governance as a fundamental pillar for steering sustainable change. Dr. Marengo spoke of the need for strong and informed leadership, capable of guiding the company toward sustainability with seriousness and competence.

He stressed that the adoption of ESG practices requires genuine and transparent commitment from corporate leaders, and that the formal approach to ESG reporting must go hand in hand with a true sustainability culture permeating every level of the organization. He warned that, in the absence of a shared sustainability policy, companies risk falling into greenwashing, jeopardizing their reputation and stakeholder trust.

The event saw high engagement from entrepreneurs, managers, and professionals, who had the opportunity to exchange views and learn how leading examples of sustainable innovation are shaping the future of Italian companies. Presentations and workshops provided concrete tools for adopting ESG practices and preparing for upcoming regulatory challenges.

The event reaffirmed the commitment of Studio Locatelli & Associati and M&L Consulting Group to supporting Italian companies on their transformation journey toward a more sustainable, transparent, and responsible business model. The integration of ESG factors, both in reporting and in governance, has now become a priority for companies aiming to face future challenges with competence, innovation, and strategic vision.

We thank all participants for their engagement and interest in sustainability, and we encourage all companies to continue investing in the future, embracing sustainability as a key driver of growth and innovation.