PIRELLI: MARCO TRONCHETTI PROVERA PROPOSES TO THE BOARD THE NOMINATION OF GIORGIO LUCA BRUNO AS DEPUTY-CEO BEGINNING FROM THE SHAREHOLDERS’ MEETING OF JUNE 15, 2021
Milan, 24 March 2021 – With the aim of supporting the execution of the industrial plan that will be presented to the market on March 31, 2021, the Executive Vice Chairman and CEO, Marco Tronchetti Provera, has decided to propose the nomination, reporting directly to him, of Giorgio Luca Bruno as Deputy-CEO.
The proposal – shared with the Chairman of the Board of Directors Ning Gaoning and the Nominations and Succession Committee and of which Board Members have been informed – also aims to strengthen the management team in consideration of the future succession pathway in line with the Procedure already adopted by the company and foresees that Deputy-CEO may also contribute to the course of enhancement of the international management team.
Informed of this proposal, the Board Member Angelos Papadimitriou, whose confirmation was included in the agenda of today’s shareholders’ meeting, communicated the he would withdraw his candidacy as a board member, in order to allow the implementation of the above proposal.
The Executive Vice Chairman and CEO will therefore propose to the Board of Directors Meeting of March 31, 2021, to invite the Shareholders’ Meeting scheduled for June 15, 2021, to nominate Giorgio Luca Bruno as a board member and will also propose that once nominated as a Board Member he will assume the role of Deputy-CEO. Until then Giorgio Luca Bruno will continue to support the industrial activities of Prometeon Tyre Group, of which he is today Chief Executive Officer.
Following the assumption of the role of Deputy-CEO by Giorgio Luca Bruno, the macro-organizational structure of Pirelli, foresees that the Executive Deputy Chairman and CEO, who will be responsible for strategic and industrial guidance, will continue to head Strategic Planning & Controlling; Investor Relations, Competitive, Business Insight, Micromobility Solutions; Communication and Brand Image; Institutional Affairs and Culture; Corporate Affairs, Compliance, Audit and Company Secretary.
The Deputy-CEO will be given all the necessary executive levers, as well as staff areas not directly reporting to the Executive Vice Chairman, and the report of the General Manager Operations, Andrea Casaluci, who will continue to head all the business lines and regions.
Giorgio Bruno has developed significant managerial experience in complex financial and industrial contexts, including the tyre industry. After obtaining a degree in Company Economics from Milan’s Bocconi University he began his career in the IFIL Group (an Agnelli family holding company) where he handled the group’s diversified activities, in particular financial services. In 1991 he entered Camfin where he managed investments in various sectors, Pirelli first among them, and then those in the distribution of petroleum products, energy services, renewable energy and the new technologies applied to these. In Camfin he also had the opportunity to take significant operational roles in some units. In 2008, he entered directly into Pirelli’s operational structure with responsibility for corporate development and diversified businesses, a role in which he favoured the entrance of new shareholders and the revision of the group’s financial structure. In 2013, he became Executive Chairman of Prelios, managing its turnaround and subsequent sale to a fund. More recently, he dealt with the process of separating Pirelli’s Industrial business, which became an autonomous company named Prometeon Tyre Group (PTG), part of the ChemChina group. In 2017, he became Chairman of PTG and in January 2018 he also became its CEO, guiding the company’s turnaround and managing to achieve and maintain positive results even during the pandemic.