There will of course be 12 months next year, but you won’t be able to check that on a Pirelli Calendar. Pirelli has decided to cancel production and the launch of the 2021 Calendar, and instead ‘The Cal’ project will, in the context of other initiatives already undertaken by the company, donate 100,000 euros to the fight against and research into the coronavirus.
A three-year extension to the Shareholders’ Agreement covering the governance of Pirelli & C. S.p.A was agreed upon yesterday. This extension will take effect from the publication date of the notice convening the Pirelli shareholders’ meeting for approving the company’s 2019 financial statements.
The Pirelli tyre plant in Carlisle hosted a royal guest today to mark its 50th year of operation. His Royal Highness The Prince of Wales was welcomed at the plant by Marco Tronchetti Provera, chief executive officer and executive vice-chairman of Pirelli, along with Andrew Mitchell, HM Trade Commissioner for Europe, and Raffaele Trombetta, Italy’s Ambassador to the UK, senior Pirelli management and many employees.
Pirelli will remain global tyre partner of the FIA Formula One World Championship until the end of the 2023 season after extending its current contract – which lasts until the end of the 2019 season – for a further four years. Pirelli notes that the agreement to extend the partnership was “completed in a short timeframe” on the back of the “successful partnership over recent years.”
Pirelli Tyre Russia and Rostec have placed their signatures upon a memorandum covering plans to more than double production capacity at the Voronezh Tire Plant in southwest Russia. This agreement formalises the long-held aim of increasing capacity at the joint venture facility from 2 million to more than 4 million passenger car tyres per annum.
Pirelli is looking forward to tax concessions worth millions through its participation in the ‘Patent Box’ tax regime. Yesterday the tyre maker signed an agreement with the Italian tax office covering the 2015 to 2019 fiscal years; it estimates that the tax benefit for the three fiscal years to 2017 alone will amount to approximately 54 million euros.
Pirelli has become the first tyre company to join the United Nations Road Safety Trust Fund, pledging a contribution of US$600,000 (2018-2019) to help the fund in its global road safety efforts. At the same time, the company’s chief sustainability and risk governance officer, Filippo Bettini, was nominated to a seat on the fund’s Advisory Board.
Pirelli has signed an agreement with Luna Rossa Challenge for the constitution of a partnership aimed at the development of a multi-year project which will lead to Luna Rossa’s participation in the next edition of the America’s Cup, set for New Zealand in 2021. Pirelli and Prada will be co-titled sponsors of the vessel and will detail their plans at a soon-to-be-organised event.
As a consequence of his announced retirement as chairman of China National Chemical Corporation (ChemChina), Ren Jianxin has resigned from all roles he held on the Board of Directors at Pirelli & C. S.p.A. His resignation took effect 30 July. Pirelli has officially thanked Ren for his “contribution to the company in these years.”
At a ceremony held at the Mexican Embassy in Rome on Monday, the Águila Azteca (Order of the Aztec Eagle) was bestowed upon Marco Tronchetti Provera. The Pirelli executive vice-president and chief executive offer received this, the highest honour the government of Mexico grants to foreigners, for services rendered to the country.
At the Pirelli Board of Directors meeting scheduled for 14 May 2018, Marco Tronchetti Provera will present to board members the tyre maker’s proposal for developing an organisation to support the company’s Integrated Business Model. This proposed organisation, which the executive vice-chairman and chief executive officer has already shared with the chairman of the board, involves a new distribution of responsibility within the company.
While tyres help Formula One cars to maintain control, on a boat this job falls to the rudder. Therefore, it is fitting that these components on the Emirates Team New Zealand entry in the 2017 America’s Cup 2017 feature Pirelli branding. The ‘long P’ logo on its familiar yellow background is present thanks to a new partnership agreement signed between Pirelli and the two-time America’s Cup winner. The Pirelli logo will also appear on the boat’s hull.
In parallel with presenting its full-year 2016 results, Pirelli has revealed further details of its complex ownership structure and how it is splitting its consumer and industrial tyre business into two separate entities.
The latest news is that, as of March 2017, TP Industrial holding (which owns the newly renamed PTG, which was called Pirelli industrial until recently – more on that later) has been separated out from Pirelli’s consumer tyre business. In practice this means the assignment of TP Industrial holding to Marco Polo, Pirelli’s sole shareholder. According to Pirelli, the assignment will “ensure that Pirelli and TP Industrial can pursue their own independent paths to growth and independently developed strategies”.
Pirelli has celebrated 110 years of motorsport activity. At events held this week in Turin, Italy, the tyre maker celebrated its long competitive heritage at Turin’s National Automobile Museum and also opened the doors to the plant where its most advanced products are manufactured.