Pirelli confirms 2010 results; nominates new directors

ERJ staff report (DS)

Milan, Italy -- Shareholders of Pirelli & C have approved the 2010 results at their annual meeting. , Pirelli closed 2010 with a consolidated net profit of 4.2 million euros and a Parent Company net profit of euro 87.4 million.

In addition, they changed the board of directors to 20 people of whom 11 are independent. ALl directors will now have a term of three years. The annual gross compensation for the entire Board is set at 1.7 million euros.

The following people were nominated directors of Pirelli & C. SpA:

• Marco Tronchetti Provera
• Vittorio Malacalza
• Alberto Pirelli
• Carlo Acutis (independent)
• Anna Maria Artoni (independent)
• Gilberto Benetton
• Alberto Bombassei (independent)
• Luigi Campiglio (independent)
• Enrico Tommaso Cucchiani
• Paolo Ferro Luzzi (independent)
• Giulia Maria Ligresti
• Massimo Moratti
• Renato Pagliaro
• Giovanni Perissinotto
• Luigi Roth (independent)
• Carlo Secchi (independent)

In addition, four elected representatives were nominated by institutional investors, but not nomiated by the board.

• Franco Bruni (independent)
• Elisabetta Magistretti (independent)
• Francesco Profumo (independent)
• Pietro Guindani (independent)

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Press release from Pirelli