Pirelli Real Estate is Now Prelios
Pirelli Group’s board of directors has agreed to change the name of Pirelli Real Estate (the wing it recently decided to spin off) to Prelios. The change will take effect when the separation of Pirelli RE from Pirelli & C, is finalised. During the same announcement Pirelli also revealed that Enrico Parazzini has been appointed as the firm’s new managing director finance. This appointment follows the resignation of Claudio De Conto, who held the same position.
“The board of directors, the chairman Marco Tronchetti Provera and the entire management team thank Claudio De Conto for the work done and the results achieved while in Pirelli RE – specifically the successful contribution he made to the company’s turnaround and restructuring – as well as for his long professional career as part of the Pirelli Group begun in 1988,” an official statement said, expressing Pirelli’s vote of thanks.
The new name is a blend of “pre” (which reportedly recalls the concept of premium, the Latin roots of the company and is a reminder of the acronym that was part of the company’s former name – Pirelli Real Estate) and helios, a Greek term which refers to the sun and is said to represent the future.