Pirelli proposes 31 July BoD renewal meeting

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).