New Pirelli board leads by committee

April 24, 2011

First Pirelli & Cie. SpA's shareholders elected the new board of directors. Then the board elected its officers, including Chairman Marco Tronchetti Provera.

The shareholders, in an ordinary session, elected 20 board members to three-year terms ending upon the approval of fiscal 2013 results. They include: Marco Tronchetti Provera, Vittorio Malacalza, Alberto Pirelli, Gilberto Benetton, Enrico Tommaso Cucchiani, Giulia Maria Ligresti, Massimo Moratti, Renato Pagliaro and Giovanni Perissinotto.

The board also includes 11 independents: Carlo Secchi  (lead independent director), Carlo Acutis, Anna Maria Artoni, Alberto Bombassei, Luigi Campiglio, Paolo Ferro Luzzi, Luigi Roth, Franco Bruni, Elisabetta Magistretti, Francesco Profumo and Pietro Guindani.

In the extraordinary session, the new board elected Tronchetti Provera chairman and CEO, and Malacalza and Pirelli deputy chairmen

The board members also named new members to two existing committees, and members to two new committees.

Remunerations Committee: Acutis (chairman), Artoni, Guindani and Roth).

Committee for Internal Control, Risk and Corporate Governance: Secchi (chairman), Bruni, Luzzi, Magistretti and Roth.

Committee for Nominations and Successions: Tronchetti Provera (chairman), Malacalza, Campiglio and Roth.

(The nominations and successions committee will have, among other things, the task of identifying the criteria for the definition of succession plans for the top and senior management, with the aim of guaranteeing continuity in the business’s strategies.)

Strategies Committee: Tronchetti Provera (chairman), Bruni, Malacalza, Pagliaro, Profumo, Secchi, Francesco Gori and Francesco Chiappetta.

"The Strategies Committee will support the CEO and board of directors as a whole in the definition of the strategic guidelines of the business, as well as the definition of the conditions and terms for operations, including extraordinary ones, of great strategic importance," says the company.

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