Tronchetti Provera & Casaluci confirmed in Pirelli leadership roles

The Pirelli & C. SpA Board of Directors that was nominated on 31 July met for the first time yesterday. During this meeting, board members nominated Marco Tronchetti Provera to the position of Executive Vice Chairman and Andrea Casaluci as Chief Executive Officer.

As Executive Vice Chairman, Tronchetti Provera holds authority in areas related to general strategies, communication, corporate affairs and internal controls, as well as relations with shareholders and institutions. He will also supervise the implementation of Pirelli’s industrial plan. Casaluci, as Chief Executive Officer, is responsible for Pirelli’s operational management.

Jiao Jian, chairman of Pirelli’s new Board of Directors, becomes the firm’s legal representative and assumes powers specified by current company byelaws.

After examining available information and statements from interested parties, the Board of Directors evaluated whether the nine independent directors met the requirements for independence as mandated by Legislative Decree 58/1998 and the Code of Corporate Governance for listed companies. The nine directors in question are: Michele Carpinelli, Domenico De Sole, Alberto Bradanini, Fan Xiaohua, Marisa Pappalardo, Grace Tang, Roberto Diacetti, Paola Boromei and Giovanni Lo Storto.

The Pirelli BoD

The following directors make up the new Pirelli & C. SpA Board of Directors: Jiao Jian (Chairman), Marco Tronchetti Provera (Executive Vice Chairman), Andrea Casaluci (Chief Executive Officer), Chen Aihua, Zhang Haitao, Chen Qian, Alberto Bradanini (independent), Michele Carpinelli (independent), Domenico De Sole (independent), Fan Xiaohua (independent), Marisa Pappalardo (independent), Grace Tang (independent), Roberto Diacetti (independent); Paola Boromei (independent) and Giovanni Lo Storto (independent).

As announced on 28 June 2023, the Board has appointed Francesco Tanzi Pirelli’s Corporate General Manager.

Board Committees & Supervisory Board

Taking the new composition of the Board into account, members nominated individuals to serve on the various Board Committees. They confirmed existing committees and also established a new Sustainability Committee, which will focus on sustainability-related issues related to the company’s operations. The Committees are now composed as follows:

– Remuneration Committee: Grace Tang (Chairman), Michele Carpinelli, Paola Boromei, Alberto Bradanini, Chen Aihua;

– Control, Risks and Corporate Governance Committee: Fan Xiaohua (Chairman), Giovanni Lo Storto, Roberto Diacetti, Michele Carpinelli, Chen Aihua;

– Nomination and Succession Committee: Marco Tronchetti Provera (Chairman), Domenico De Sole, Chen Aihua, Zhang Haitao;

– Strategies Committee: Marco Tronchetti Provera (Chairman), Jiao Jian, Andrea Casaluci, Domenico De Sole, Alberto Bradanini, Roberto Diacetti, Chen Qian, Zhang Haitao;

– Related Parties Committee: Marisa Pappalardo (Chairman), Giovanni Lo Storto, Michele Carpinelli;

– Sustainability Committee: Marco Tronchetti Provera (Chairman), Jiao Jian, Andrea Casaluci, Giovanni Lo Storto.

The Board of Directors, with the prior approval of the Board of Statutory Auditors, has reappointed Fabio Bocchio as the designated manager responsible for preparing the company’s accounting documents. Additionally, the Board of Directors confirmed Carlo Secchi (Chairman), Antonella Carù, and Alberto Bastanzio as members of the Supervisory Board. These appointments continue from their prior mandate, which expired together with the previous Board.