Pirelli proposes 31 July BoD renewal meeting
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Yesterday, the Board of Directors of Pirelli convened to review the demands outlined in the Italian government’s Golden Power Procedure decision. Following deliberation, they reached a decision to recommend deferring discussions concerning the appointment of a new Board of Directors at the forthcoming shareholders meeting scheduled for 29 June 2023. Instead, they plan to address this matter during a subsequent shareholders meeting set to take place on 31 July 2023.
Should the postponement gain approval, the following business will be deliberated upon during the 31 July meeting:
Determining the number of directors on the new board, appointing directors (through the list voting mechanism) and the chairman, and establishing remuneration;
approval of remuneration policy for 2023 as well as an advisory vote on the remuneration paid for 2022;
approval, for the portion linked to Total Shareholder Return, of the adoption of the long-term monetary incentive plan for the 3-year period 2023-2025 (LTI 23-25) for Group management in general and correlated to the targets of the Strategic Plan 2021-2022|2025;
renewal of the authorisation for the stipulation of an insurance policy to cover management risks for Directors and Auditors (cd. D&O).
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