Composition of the Board of Directors

The composition of the Board of Directors reflects the agreements of the shareholders' agreement entered on 28 July 2017 by and among ChemChina, CNRC, Silk Road, SPV HK 1, HK 2, SPV lux, Camfin, LTI e MTP&c, according to which Pirelli's Board of Directors is expected to initially include 14 members, 7 of which are independent, and that it should be integrated with a further independent director, to be nominated at the first shareholders meeting of Pirelli after the initialization of the negotiations of the shares on the Stock Market (“MTA”) organized and managed by Boarsa Italiana S.p.A. (4 October 2017) by the minorities, with the majorities required by the law without applying the list vote.

Following this integration, Pirelli's Board of Directors will therefore consist of 15 members as follows:

(i) 8 directors appointed by China National Tire & Rubber Corporation Ltd., including Pirelli’ chairman, 4 of whom independent and two of female gender.

(ii) 4 directors appointed by Marco Tronchetti Provera & C. S.p.A., including Dr. Marco Tronchetti Provera, as Vice Chairman and Managing Director of Pirelli's Board of Directors, one of whom is independent and female, selected among professionals with a solid background in the management of industrial companies and / or professional experience in the industry, and

(iii) 2 directors, both independent and one female, jointly nominated by China National Tire & Rubber Corporation Ltd. and Marco Tronchetti Provera & C. S.p.A., also taking into account the indications of the Global Offer Coordinators nominated in the context of the IPO;

(iv) 1 minority independent director to be appointed at the first shareholders meeting with effectiveness from the date of the commencing of the trading of the shares. 

The Board in office was appointed effective from 31 August 2017 by the Shareholders' Meeting on August 1, 2017, which determined the number of members in 14, and fixed the duration of the mandate in three years (until the Shareholders 'Meeting that will be called for the approval of the Company's financial statements as of 31 December 2019) and decided that the Board should be integrated with a further independent director to be appointed at the first Shareholders' Meeting of Pirelli after the date of the commencing of the trading of the shares.

The curricula vitae of each elected Director are published on the Company's website, where they are still available in their updated version.

The Board of Directors, on the basis of the information available and of the declarations made by the interested parties, confirmed the existence of the independence requirements for all the Directors that have declared themselves independent at the time of appointment.

As of today, seven directors on fifteen were qualified independent under the Legislative Decree 58/1998 (“TUF”) and pursuant to the principles of the Self-Regulatory Code of Borsa Italiana S.p.A ..

Following the actual composition of the Board of Directors of Pirelli & C. S.p.A..

AMMINISTRATORI IN CARICA

Name Position First appointment Exec. Non exec. Indip.
Ren Jianxin Chairman 20 October 2015 X
Marco Tronchetti Provera1 Vice Executive Chairman and CEO 7 May 2003 X
Yang Xingqiang Director 20 October 2015 X
Bai Xinping Director 2 September 2015 X
Giorgio Luca Bruno2 Director 15 March 2016 X
Laura Cioli Director 1 August 2017 X
Domenico De Sole Director 1 August 2017 X
Zeev Goldberg Director 2 September 2015 X
Tao Haisu3 Director 1 August 2017 X
Marisa Pappalardo Director 1 August 2017 X
Cristina Scocchia Director 1 August 2017 X
Giovanni Tronchetti Provera Director 1 August 2017 X
Fan Xiaohua Director 1 August 2017 X
Wei Yintao Director 1 August 2017 X

1 From 1999 to 2003 Chairman of the Board of the Managing Partners
2 He’s been qualified as executive director on the basis of the his role as Executive Vice President and Chief Corporate Development Diversified Business in Pirelli & C. S.p.A.
3 Tao Haisu has been Director of Pirelli from 20 October 2015 until 15 March 2016

Last Revised: 4 Oct 2017 7:00 am