PIRELLI: BAI XINPING RESIGNS FROM BOARD OF DIRECTORS
Milan, 14 February 2023 – Pirelli & C. S.p.A. announces that Mr. Bai Xinping today communicated his resignation from his role as a Director of the Company. The reason is the assumption of new professional responsibilities in Sinochem Group.
Pirelli wishes to extend its sincere thanks to Mr. Bai Xinping for the work performed over the seven years of his mandate.
The resignation will take effect with the next Board of Directors’ meeting, already scheduled on 22 February 2023. The Board will be called to resolve on the cooptation of a new Director.
To date, Mr. Bai Xinping holds the role of non-executive Director and does not possess the requisites to be qualified as independent in accordance with the TUF and Corporate Governance Code. Furthermore, he: (i) does not hold any shares in the Company based on the available information; (ii) is a member of the Remuneration Committee, Appointments and Successions Committee, and Strategies Committee; (iii) does not have the right to indemnity or other benefits in connection with the cessation of the above mentioned roles.