Car sharing has been with us ever since kindly drivers first responded to the homespun philosophy of hopeful hitch-hikers who scribbled – and often misspelled – the names of their destinations on handmade signs.
Today car sharing is very different. It is no longer about the haves helping out the have-nots, but entire communities – from vehicle manufacturers to local councils – coming together to organise and share efficient fleets of cars. It’s also big business. Global revenue from car-sharing services is expected to total $34.6 billion (£24 billion) over the 10 years to 2024, according to Navigant Research.
It’s easy to see why its popularity is soaring. Sharing cars means sharing the significant costs of owning them – and that includes the purchase price, tax, insurance, testing, parking and maintenance. Saving on overheads, of course, means you can afford to splash out on moments of motoring luxury. How about taking a spin to the shops in a prestige car? A drop-top with premium Pirelli tyres?
During the fifth edition of the award organized by Great Place to Work® Institute, Pirelli was recognized, for the second year in a row, the title “Best Companies to Work for in Greater China”.
137 companies from nine industries representing around 211,000 employees participated in this selection.
Also in December, Pirelli has received the “Excellence in Corporate Training” award, recognized by 51jobs.com, the leading online recruiter in China; during the ceremony, Pirelli was also awarded as one of “100 Excellence Employer China of 2016”.
Marco Di Pierri, Pirelli APAC HR director said, “We are proud of the honor and recognition that Pirelli has received in China. As a brand that is committed to long-term growth in China, we see our 11-year history in the country as a beginning. In the future, we’ll continue to adhere to global standards of practice while taking into consideration local characteristics, as we move to make Pirelli a company in China that can attract, develop and retain talents, a company that can motivate the full potential of their employees to create more value for both the company and the local community.”
INDUSTRIAL PLAN 2016-2018 WITH VISION TO 2020 PRESENTED
NEW PIRELLI DIGITAL GENERAL MANAGEMENT, ENTRUSTED TO BY LUIGI STACCOLI, CONSTITUTED
PAOLO DAL PINO NOMINATED CEO OF PIRELLI INDUSTRIAL
IPO LAUNCH SEEN BY FIRST HALF 2018
FUTURE GOVERNANCE ALIGNED TO INTERNATIONAL BEST PRACTICE
The Board of Directors of Pirelli & C. S.p.A. met today and was updated on the activities under way with regard to the proposed integration of Pirelli Industrial and Aeolus, acknowledging with favour its progress.
The Board then analyzed the guidelines of the industrial plan for the Industrial segment.
The Board, further, approved the industrial plan 2016-2018, with vision to 2020, for Pirelli Consumer, the sole global player entirely focused on the Consumer business. The strategy calls for:
1. strengthened leadership in the high profitability Prestige and Premium segments;
2. a business model always more focused on the end consumer (‘Consumer Centric Approach’)
3. oversight of new business opportunities offered by new and sustainable mobility (Cyber Tyre and Vélo);
4. total digitization of industrial, commercial and management processes, more efficient and based on predictive models made possible thanks to the deployment of big data and analytics.
To support this course, the Board adopted an organizational model which calls for:
- the constitution of General Management Pirelli Digital, entrusted to Luigi Staccoli, supervising all activities aimed at the digitization of the company;
- the aggregation of all technical structures (R&D, homologations, technologies, manufacturing, quality, motorsport) and sales to Original Equipment under the responsibility of General Manager Technology, Maurizio Boiocchi;
- the attribution of the management of all commercial structures (marketing, supply chain, aftermarket sales) and the Business Unit Moto to the Chief Commercial Officer Consumer, Roberto Righi, in support of the ‘Consumer Centric Approach’;
- the General Management Operations will be superseded from January 1, 2017. Gregorio Borgo, who has announced his decision to leave the company to pursue a new important professional path, will remain with the company until December 31, 2016 to support the Ceo, Marco Tronchetti Provera, with the implementation of the new organizational model;
- the nomination of Paolo Dal Pino, currently Ceo of the Latin America region, as Chief Executive Officer of Pirelli Industrial;
- attribution of responsibility for Human Resources Management given to Gustavo Bracco with the role of Chief Human Resources Officer.
The Company extends to Gregorio Borgo its appreciation for the important contribution made to the growth of Pirelli through his 24 years of service.
On the basis of these assumptions, the Board shared the desire to accelerate the course to the company’s listing, immediately launching all the necessary actions. It is foreseen that the preliminary phases for the preparation of the IPO (Initial Public Offering) can be completed during the first half of 2017, with the objective of proceeding, in accordance with the best opportunities offered by the market, with the launch of the IPO by the first half of 2018 on the Milan stock exchange or, however, on one of the leading stocks exchanges at the international level.
Among the elements underpinning the success of the listing, the Board identified:
- the alignment of governance to international best practice, through a Board of Directors and board committees composed of a suitable number of independent directors;
- a shareholder structure that, although beginning with a concentrated shareholder structure, which emerged during the Public Tender Offer, foresees an evolution which ensures a suitable free-float level and one able to satisfy the expectations of international investors;
- a system of incentives that guarantees the alignment of the interests of management with those of all shareholders.
The Board further took note with favour of the decision of the board of Marco Polo International Italy (‘Marco Polo’), which also met today, to share and approve the course decided by Pirelli and the elements underpinning the success of its listing. The Board of Marco Polo confirmed its desire to accelerate the implementation of the shareholders’ agreements signed on March 22, 2015, which have as their basis the creation of value by Pirelli and its relisting.
