Pirelli to create new corporate management structure

Milan, Italy – Pirelli’s upcoming CEO Andrea Casaluci will propose a new corporate general management structure at the tire maker’s next shareholders meeting set for 31 July.

The structure, said Pirelli, meets the requirements of the Italy government’s 16 June ‘golden power’ decree to limit the influence of major Chinese shareholder Sinochem over the group.

Under the rejig, Pirelli's former chief financial officer Francesco Tanzi will return to the group in the role of corporate general manager, said Pirelli's 28 June statement. 

Pirelli's board will also be called upon to appoint Marco Tronchetti Provera as executive vice chairman, with powers related to general strategies and implementation of business plans.

Tronchetti Provera will also have charge over communication, corporate affairs and internal controls, as well as relations with shareholders and institutions.

As CEO, meanwhile, Casaluci will have the powers related to business planning, annual budget and resolutions concerning industrial partnerships or strategic joint ventures.

The CEO and the corporate general manager will also be delegated with the ordinary management of Pirelli and - under the supervision of the executive vice chairman - the power to implement the business plan and budget."

The general manager will head the current functions of finance and services, sustainability and future mobility, chief legal officer, chief digital officer and art venue Pirelli Hangar Bicocca.

The administration planning and controlling function, those responsible for the preparation of the corporate financial documents, and the chief HR officer will report to the CEO.