MILAN, June 29 (Class Editori) -- As required by recent prescriptions on Pirelli, issued by the Government under the Golden Power legislation, Pirelli announced yesterday that it has proposed the introduction of the corporate function of general corporate management, a role to be filled by Francesco Tanzi, who previously served as CFO of the Bicocca Group itself.
Andrea Casaluci, who will be appointed as CEO of Pirelli, in coordination with current Executive Vice President and CEO Marco Tronchetti Provera, "has decided to propose to the board of directors, at the first meeting to be held following the shareholder' meeting scheduled for next July 31, the establishment of the corporate general management function under him, entrusting its responsibility to Francesco Tanzi, who is part of the Pirelli Group".
Tanzi previously worked at IVECO, a company in which he held the position of CFO, and just yesterday in the morning the truck company had in fact announced the farewell of the manager, who was leaving the Group "in view of a new assignment in another industrial sector".
The Pirelli press release also details the powers assigned to the new corporate management structure. Executive Vice President Tronchetti Provera will have powers relating to general strategies, supervision of the implementation of the industrial plan, communications, corporate affairs and internal controls, and relations with shareholders and institutions.
The CEO Casaluci will instead have the power, in coordination with Tronchetti Provera, to propose to the Board of Directors the business plan, the annual budget, and any resolution concerning industrial partnerships or strategic joint venture. Meanwhile, the CEO and the new General Manager will be delegated the ordinary management of Pirelli and, again under the supervision of the Executive Vice Chairman, the power to implement the business plan and the budget.
Among the other prescriptions sent through the Golden Power, the Government has asked China's Sinochem not to exercise management and coordination activities to "ensure full autonomy to Pirelli in the management of relations with customers and suppliers," and to ensure that the company "autonomously prepares strategic, industrial, and financial plans".
(Source: Class Editori)
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