The shareholders' meeting of Pirelli approved the 2019 budget, closed with a net profit of the parent company of 273,2 million euros, which will be fully carried forward. The company communicates it in a note, specifying that the shareholders have also nominated the new Board of Directors for the three-year period 2020-2022. There are a total of 15 members, 9 of whom are independent, and the gross annual remuneration of the entire board has been set at a maximum of two million euros.
Here is the list of members of the new Pirelli Board of Directors taken from the majority list, presented by Marco Polo International Italy together with Camfin, which obtained favorable votes from 86,7% of the capital represented at the meeting:
- Ning Gaoning (himself appointed chairman);
- Marco Tronchetti Provera;
- Yang Xingqiang;
- Bai Xinping;
- Wei Yintao (independent);
- Domenico De Sole (independent);
- Giovanni Tronchetti Provera;
- Zhang Haitao;
- Fan Xiaohua (independent);
- Marisa Pappalardo (independent);
- Tao Haisu (independent);
- Carlo Secchi (independent)
The board is completed by three names taken from the minority list (green light from 13% of the capital represented at the meeting) presented by a group of asset management companies and institutional investors:
- Giovanni Lo Storto (independent);
- Paola Boromei (independent);
- Roberto Diacetti (independent).
During the meeting, the executive vice president and managing director Marco Tronchetti Provera, who chaired the meeting, thanked the outgoing directors Giorgio Luca Bruno, Laura Cioli, Ze'ev Goldberg and Cristina Scocchia.
The shareholders' meeting also approved the remuneration policy for 2020 (with 87,7% of share capital present at the meeting) and expressed its favorable opinion (with 89,7% of share capital present) on the remuneration report paid in the 2019 financial year. Green light also for the adoption of the 2020/2022 three-year monetary incentive plan for the management of the Pirelli group to the "Directors and Officers Liability Insurance" insurance policy.
