BOARD CO-OPTS MANUELA SOFFIENTINI AND GIUSEPPE VITA. CHANGE TO COMPANY CALENDAR: BOARD TO REVIEW 2011 RESULTS 12 MARCH
The Board of Directors of Pirelli & C. met today and co-opted Giuseppe Vita, in place of Mr. Enrico Tommaso Cucchiani, who resigned from the board on 16 December 2011, and Manuela Soffientini, in place of Professor Francesco Profumo, who resigned from the board on 16 November 2011.
The two were co-opted at the proposal of the Committee for Nominations and Succession which had opportunely consulted Assogestioni, the association of the Italian investment management industry, for the selection of the candidates to propose to the Board, considering that Mr. Profumo had been chosen from a minority list presented by institutional investors under the aegis of Assogestioni. In line with Pirelli’s commitment to constantly keeping its system aligned with national and international best practice, the Committee for Nominations and Succession proposed Manuela Soffientini: which also enhances the female component of the Board bringing it to 20% and thus already in line with the requirements set out in the new law ( no. 120 of 12 July 2011), applicable to the Pirelli Board of Directors from the renewal scheduled with the shareholder meeting to approve results on 31 December 2013.
The Board of Directors also decided, on the basis of available information and statements from the person concerned, that the requisites of independence have been met (both in terms of legislative decree 58/1998 and the code of self-regulation for listed companies) with regard to board member Soffientini.
The curricula of Soffientini and Vita can be seen at www.pirelli.com.
Pirelli & C. SpA also announces that the Board of Directors will meet to review the results for 2011 on Monday 12 March 2012 and no longer on Thursday 8 March as previously announced.