Remuneration
Pursuant to the Company Bylaws, in addition to reimbursement for expenses incurred in performing their duties, Directors receive annual fees determined by the Shareholders' Meeting.
The Shareholders' Meeting held on August 1st, 2017 decided - pursuant to Art. 2389, subsection 1, of the Civil Code - to establish a maximum of EUR 2,000,000 as the total annual remuneration of the Board of Directors, delegating to the Board of Directors the distribution of the same.
The Board of Directors, met on August 31st, 2017, resolved to distribute the above-mentioned total salary as follow:
| Board Director | a gross annual salary of EUR 60 thousand |
| Chairman of the Audit, Risks, Sustainability and Corporate Governance Committee | a gross annual salary of EUR 30 thousand |
| Member of the Audit, Risks, Sustainability and Corporate Governance Committee | a gross annual salary of EUR 25 thousand |
| Chairman of the Remuneration Committee | a gross annual salary of EUR 30 thousand |
| Member of the Remuneration Committee | a gross annual salary of EUR 25 thousand |
| Chairman of the Strategies Committee | a gross annual salary of EUR 50 thousand |
| Member of the Strategies Committee | a gross annual salary of EUR 30 thousand |
| Chairman of the Appointments and Successions Committee | a gross annual salary of EUR 50 thousand |
| Member of the Appointments and Successions Committee | a gross annual salary of EUR 30 thousand |
| Chairman of the Related-Parties Committee | a gross annual salary of EUR 60 thousand |
| Member of the of the Related-Parties Committee | a gross annual salary of EUR 40 thousand |
| Director in charge of sustainability matters | a gross annual salary of EUR 70 thousand |
The residual amount can be used at a later date for new governance solutions eventually adopted by the Company.
Pirelli adopted a Remuneration Policy which contains the guidelines for the definition of the Executive Directors’ and Management’s remuneration. The Remuneration Policy 2018 will be submitted to the consultation vote of the AGM scheduled on the 15th of May 2018.
Please find below the Remuneration Policy 2018 |
Remuneration Policy 2018 (PDF - 936 KB) |
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The Remuneration Statement illustrates the policy that the Pirelli Group implemented during the year 2017 in connection with the remuneration and provides a final statement of it in connection with the different types of beneficiary parties, without prejudice to the obligations of transparency provided by other applicable provisions of law or regulations.
Please find below Remuneration Statement 2017 |
Remuneration Statement 2017 (PDF - 348 KB) |
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Pirelli will adopt a new 2018-2020 three-year monetary incentive plan for the Management of the Pirelli Group ("LTI Plan"), subject to the favourable vote by the AGM referring to the part that is linked also to the performance of the value of the Pirelli share.
The LTI Plan sets out, inter alia, that part of the incentive is to be determined on the basis of the Total Shareholder Return objectives calculated with respect to Pirelli’s performance and with respect to an index composed by a selected panel of "peers" belonging to the Tyre sector.
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Disclosure document (PDF - 282 KB) |
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