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A second managing Director of The Company has be appointed.

The Board of Directors of Pirelli SpA met today and decided to
revise top management positions, with the objective of enhancing
the Company’s strategic focus and managerial effectiveness. The
decision has been made in consequence of the Company’s increased
complexity, also as a result of recent international acquisitions,
and of the strong liquidity aimed at further extending activities,
in both product portfolio and geographical spread. Reporting
directly to the Chairman and Managing Director of Pirelli SpA,
Marco Tronchetti Provera, a second Managing Director of the Company
has been appointed, Carlo Buora, who will also keep the position of
General Manager. All responsibilities for Finance and
Administration activities are delegated to Carlo Buora. Following
the recently announced decision to separate Energy activities from
Telecom activities in the Cables and Systems Sector, premise for a
future separation also from a corporate viewpoint, two new General
Managers have been appointed: Oscar Cristianci was appointed
General Manager Energy Cables and Systems, Kevin Riddett General
Manager Telecommunication Cables and Systems. Giovanni Ferrario
continues to be General Manager Tyre Sector. The Board of Directors
also expressed their great appreciation for the Group’s strong
increase in value during the ’90s and, in particular, during the
year that has just ended, with the brilliant conclusion of both
Cisco and Corning Inc. deals.

Categories: Institutional