The Board of Directors of Pirelli & C. has convened theassembly on the 2022 budget and appointments on June 29, 2023 at 10:30. The assembly will be behind closed doors and will have to decide whether to extend the current board of directors or renew it immediately, after the first postponement of the assembly announced on 11 May and linked to the ongoing evaluation, by the Meloni government, on the possibility of enforce the Golden Power to "lock down" Pirelli.
In fact, the company's press release explains that "to take into consideration the timing of the Golden Power procedure relating to the renewal of the shareholders' agreement signed on May 16, 2022" between China National Ruber Co (Cncr, 100% ChemChina), the Italian shareholders of the group Bicocca, Camfin and Marco Tronchetti Provera, "the BoD has resolved to propose to the Shareholders to express their opinion on the deferment of the appointment of the Board (and of the decision on the subsequent correlated items on the agenda) when the Golden Power Process will be concluded".
These are the items on the agenda on which the meeting that will take place on June 29 will be called to pronounce:
- approve the 2022 financial statements and the related resolutions regarding the distribution of the dividend;
- decide on the postponement to a subsequent shareholders' meeting, to be convened presumably by 31 July 2023 in consideration of the time foreseen for the conclusion of the Golden Power Process, of the discussion of the items on the agenda relating to the renewal of the Board of Directors, with consequent medium tempore extension of the Board currently in office, and of the subsequent items on the agenda;
If the extension of the Board of Directors is not approved, the shareholders' meeting will decide on the renewal of the Board of Directors due to complete term, will vote on the 2023 remuneration policy and on the long-term monetary incentive plan for the three-year period 2023-2025 (LTI 23 -25).
Finally, the annual "Report on corporate governance and the ownership structure", already available to the public since 12 April 2023, will be presented to the Shareholders' Meeting, together with the financial statements and the annual consolidated non-financial statement.
The participation of shareholders with voting rights in the meeting will take place through a designated representative, without physical participation.
