The executive vice president and managing director of Pirelli, Marco Tronchetti Provera, will have a Deputy-CEO who will act alongside him in a few months: it is George Bruno, whose appointment will be proposed by Tronchetti himself at the shareholders' meeting scheduled for June 15th. The operation was shared with the president Ning Gaoning and will serve to strengthen the action of the management in view of the new industrial plan which will be presented on March 31st.
The appointment of Bruno, explains a note, is also made "in consideration of a future path of succession, in line with the procedure already adopted by the company, which provides for (...) the enhancement of internal management". Informed of this proposal, the Director Angelos Papadimitriou, the confirmation of which was envisaged on the agenda of today's meeting, announced that he was withdrawing his candidacy for the office of Director, in order to allow the implementation of the above proposal.
Until mid-June Giorgio Bruno will continue to support the industrial activities of Prometheon Tryre Group, of which he is now Chief Executive Officer. Following Giorgio Luca Bruno's assumption of the office of Deputy-CEO, the macro-organizational structure of Pirelli provides that the Executive Vice Chairman and CEO, who will be responsible for strategic and industrial direction, will continue to be in charge of Strategic Planning & Controlling; Investor Relations, Competitive, Business Insight and Micromobility Solutions; Communication and Brand Image; Institutional Affairs and Culture; Corporate Affairs, Compliance, Audit and Company Secretary.
The Deputy-CEO will be assigned all the necessary executive levers, in addition to the staff areas not directly reporting to the Executive Vice Chairman and CEO, and will report to the General Manager Operations, Andrea Casaluci, to which all business lines and regions will continue to report. The assembly also approved it with 99,9%. convertibility of the bond loan equity-linked type called “EUR 500 million Senior
Unsecured Guaranteed Equity-linked Bonds due 2025”, issued on 22 December 2020, and the green light was also given to the increase connected to this bond.
