Composition of the Board of the Statutory Auditor 

The Board of Statutory Auditors consists of five Statutory Auditors and three Substitute Auditors who are in possession of the requirements set out in the current statutory regulations; to this end, account will be taken of the fact that subjects and sectors of activity closely related to those of the enterprise are those indicated in the company object, with particular reference to companies, financial, industrial, banking, insurance, real estate and services in general.
The Ordinary Shareholders' Meeting elects the Board of Statutory Auditors and determines the remuneration. The minority is reserved for the election of a statutory auditor and an alternate auditor.

The Board of Statutory Auditors in office was appointed by the Shareholders' Meeting of 14 May 2015 for three financial years with and will cease with the approval of the financial statements at 31 December 2017.
On March 15, 2016, the Effective Statutory Auditors Antonella Carù and Substitute Auditor Andrea Lorenzatti resigned. On the same date, the Shareholders' Meeting expanded to 5 the number of Statutory Auditors, appointing David Reali, Giovanni Bandera and Fabrizio Acerbis, who will expire at the Shareholders' Meeting convened for the approval of the financial statements at 31 December 2017.
On 1 August 2017, the Statutory Auditor Fabrizio Acerbis resigned from office and on the same date the Shareholders 'Meeting appointed Antonella Carù as its replacement, which will expire at the Shareholders' Meeting convened for approval of the financial statements as at 31 December 2017.
On 30 August, the Effective Statutory Auditors Giovanni Bandera and David Reali resigned from the office effectively to the date of the Shareholders 'Meeting who appointed them as their replacement on 5 September 2017 Luca Nicodemi and Alberto Villani who will expire at the Shareholders' Meeting of the shareholders called for the approval of the financial statements at 31 December 2017.
The compensation was set at € 50,000 for the statutory auditors and € 75,000 for the Chairman of the Board of Statutory Auditors. 
The applicant submits the candidates' profiles so that they can be informed in advance of their personal and professional characteristics and of the possession of certain requirements to be qualified as independent. The curricula vitae presented at the filing of the lists were promptly published on the website www.pirelli.com, Governance section, where they are still available and periodically updated.

Last Revised: 4 Oct 2017 7:00 am