What a Managing Director Does and What It Pays (AD, Italy 2026)
The amministratore delegato is the board director who actually runs the company: appointed by board resolution, holding written delegated powers, personally accountable under Italian law, and paid between 120,000 and 500,000 euro depending on the size of the business.
What the role actually covers
- Executing the strategy the board approved, and flagging when it stops working
- Building and, when needed, replacing the management team
- Owning the P&L, the cash, and the covenant position
- Ensuring the organisational and accounting structure is adequate to the size of the business
- Reporting honestly to the board on the general performance outlook
Where the authority comes from
Not from the title. It comes from a board resolution that names the person and lists the powers with monetary thresholds: what they can sign alone, what needs a second signature, what goes back to the full board. That resolution is filed publicly, which is why a counterparty can verify a managing director's authority and often cannot verify a general manager's.
What the role pays in 2026
The liability nobody reads until later
A managing director is a director. That means personal exposure for failing to maintain an adequate organisational structure, for acting outside the delega, and for continuing to trade once the company is technically in crisis. Insurance covers negligence, not conscious disregard.
When the seat is filled on an interim basis
A board can delegate powers to an interim managing director exactly as it would to a permanent one. The resolution is identical; only the horizon and the handover clause differ. This is the fastest legal route to restoring signature authority after a sudden departure.
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