PIRELLI: DIRECTOR YANG XINGQIANG RESIGNS FROM BOARD WITH EFFECT FROM 10 MAY 2022
Milan, 28 April 2022 – Pirelli & C. SpA announces that Mr. Yang Xingqiang resigned today from his role of Director of the Company. The reason is a recent and unexpected concentration of new personal commitments. The resignation will take effect with the next Board of Directors’ meeting, scheduled for 10 May 2022.
Pirelli wishes to extend its sincere thanks to Mr. Yang Xingqiang for the work performed in over six years of mandate.
To date, Mr. Yang Xingqiang holds the role of non-executive Director and he 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 Strategies Committee; (iii) does not have the right to indemnity or other benefits in connection with the cessation of the above mentioned roles.
Following the resignation, at its next meeting, the Board of Directors will be called to adopt the consequent resolutions.