Financial analysts have responded positively to Pirelli’s full-year 2013 financial results, with some reiterating their “outperform” guidance. The upbeat response was markedly different to the warnings of some market observers 24 hours earlier, which suggested the emerging market exposure (and its linked foreign exchange fluctuations) and Russian volatility in particular could undermine the company’s 2014 and 2015 outlook.
At today’s presentation of its 2013-2017 Industrial Plan in London, Pirelli & C. SpA chairman and chief executive officer Marco Tronchetti Provera spoke of the need for a “change of pace” in its activities in Russia, noting that “we’re running late with our start-up plan.” The Russian market situation, and what Pirelli intends to do there, was then explained in greater detail by Gregorio Borgo, Pirelli’s general manager operations.
Pirelli has won the contract to supply original equipment tyres to the new Ducati 899 Panigale, launched at Autodromo Internazionale Enzo e Dino Ferrari in Imola. The Italian tyre supplier said that the launch of the younger sister of the 1199 Panigale represented a good opportunity for Pirelli to confirm its leadership in the top range segment, in addition to continuing the strong technological partnership with the Borgo Panigale-based manufacturer.
When Pirelli’s Board of Directors approved a number of changes to the company’s management structure yesterday, it confirmed that position of chief commercial officer will no longer be required. The position will disappear from Pirelli’s management structure at the end of this year and the incumbent chief commercial officer, Andrea Pirondini, will leave Pirelli.
A new management role, that of ‘general manager operations’, has been created at Pirelli, and Gregorio Borgo has been appointed the first incumbent. Borgo, currently head of Pirelli’s Asia-Pacific region, will report directly to company chairman and chief executive officer Marco Tronchetti Provera in his new position.
Pirelli’s new Diablo Supercorsa SP (Sport Production) will be fitted to Ducati’s 195hp 1199 Panigale in 120/70 ZR17 (front) and the new 200/55 ZR17 rear size. Pirelli says the tyre’s SC – “Special Compound” – version will be used by Superstock 1000 FIM Cup riders this season. The announcement was made at the Yas Marina circuit in Abu Dhabi, the scene of the company’s recent 2012 season Formula One tyre launch.
Earlier this month, Pirelli was awarded the Ducati’s 2010 Best Product Innovation Award, an award offered by the motorcycle manufacturer to its most innovative supplier of the year. As a way of determining who receives this coveted award, the Italian firm utilises a committee made up of members of its Purchasing, Technical, Quality and Logistics departments; the committee analyses the performance of its suppliers from all evaluated aspects. In particular, Pirelli gained recognition from Ducati for its work in its development of the Scorpion Trail tyres for the Ducati Multistrada and the new 240/45 ZR17 size Diablo Rosso II for the Ducati Diavel.