Pirelli approves two BoD additions

At a meeting of the Pirelli & C. SpA Board of Directors on 21 October, Claudio Sposito and Paolo Fiorentino were co-opted as members to replace Vittorio Malacalza and Giulia Maria Ligresti, whose resignations from the board were announced on 10 May and 24 July respectively. The vacancy following the 16 October resignation of Carlo Salvatori remains open for the time being.

The board also nominated Claudio Sposito as a member of the company’s Strategies Committee. Sposito is the founder, chairman and chief executive officer of Clessidra SGR, the management company of the two closed funds, Clessidra Capital Partners (€820 million) and Clessidra Capital Partners II (€1.1 billion). Prior to forming Clessidra he was chief executive officer of Fininvest S.p.A., and other previous roles include head of Italian investment banking at Morgan Stanley & Co. and positions at Barclays Bank, Citibank and Standard Chartered.

Paolo Fiorentino has held the post of deputy chief executive officer at UniCredit Group since July 2007, and in October 2010 he was also appointed chief operating officer. Furthermore, Fiorentino is chairman of the Board of Directors of Unicredit Business Integrated Solutions SCpA; member of the Board of Directors of Unicredit Credit Management Bank SpA; deputy chairman of the Supervisory Board of Bank Austria AG, chairman of the Board of Directors of Neep Roma Holding SpA; member of the Board of Directors of AS Roma SpA and deputy chairman of the Board of Directors of Officinae Verdi SpA.