Maximum number of positions held in other companies

The Board of Directors has adopted the principle that it is not compatible with the duties of a director of the Company to be a director or auditor of more than five other companies, other than those subject to management and coordination by Pirelli & C. S.p.A., or its subsidiaries or affiliates, in the case of (i) companies listed on the FTSE/MIB index (or equivalent foreign indices), or (ii) companies that undertake banking or insurance; it is also not considered compatible to be an executive director of more than three companies as in (i) and (ii).

Positions held in several member companies of the same group are considered to be a single position and an executive position prevails over a non-executive position.

The Board of Directors retains the right to make a different assessment, properly motivated, and to make it public in the Corporate Governance Report.

The Board of Directors, subject to review by the Audit, Risk, Sustainability and Corporate Governance Committee, annually reviews the positions held by each Director (based on the same statement). At the date of this Report no director holds a number of positions higher than the number determined as excessive by the Company’s policy. 

An annex to the Report shows the main positions held by the Directors in companies other than those belonging to the Pirelli Group.