Sustainability Governance


Organisational Structure

Governance of Sustainability is centered in the Sustainability Steering Committee. This high-level body was formed by the Chairman at the beginning of 2004 to guide the advancement of sustainability throughout the Group and it’s composed by the top-managers representing each stakeholder. The organizational structure is made up of a Group Sustainability Director, who reports directly to the Group General Counsel, a Group Sustainability Manager and a team of Country Sustainability Managers, responsible for each Group affiliate, who was officially appointed and committed in 2011 with a personal letter by the Chairman.

 

Compliance

The Group Compliance Office – under the supervision of the General Counsel, Corporate Affairs and Group Compliance Department – interacts with all corporate departments to ensure that internal rules, processes and corporate activities constantly comply with the applicable regulatory framework and Ethical Code.

The Group Compliance Office actively participates in identifying the risks of non-compliance with internal and external rules, thereby playing a key role in preventing judicial and administrative penalties or major financial losses, including damage to reputation.

The Whistleblowing Procedure is a tool used for enforcing compliance with Group rules.

 

Corporate Governance

Pirelli has adopted a traditional management and control system. The key features of the Pirelli corporate governance system are: (i) the central role of the Board of Directors, in its capacity as the supreme body in charge of company management; (ii) the central role played by independent directors, who hold a majority of the seats on the Board of Directors; (iii) a consolidated policy of disclosing corporate decisions and the processes that led to their being taken, as well as an effective internal control system; (iv) an innovative system of pro-active risk management; (v) a management incentive system tied to medium and long-term goals; (vi) rigorous rules governing potential conflicts of interest and firm rules of conduct for related party transactions.

For more informations, see the specific section of our website.

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Risk Governance

In July 2009 the Board of Directors of Pirelli & C. examined and approved, also in line with international best practice, a new model for the assessment and management of risks liable to prejudice the achievement of the strategic objectives of the Company’s Industrial Plan and Operational Plans.

Enterprise Risk Management is a top - down process, led by Senior Management and Board, which is responsible for defining and approving strategic objectives and risks.

For more informations, see the specific section of our website.


Ultima Revisione: 10 Lug 2013