MILAN, Italy — Pirelli & C. S.p.A. has presented two lists of candidates for the board of directors to be voted on in the upcoming shareholders' meeting set for July 31.
The list presented by Sinochem-owned Marco Polo International, and also on behalf of Camfin S.p.A., nominated Jiao Jian — director and president of Sinochem Holdings since March — as the future chairman of the board of directors, Pirelli said on July 7.
Absent from the list are current Chairman Li Fanrong, and tire industry veteran Wang Feng, who joined the Pirelli board in March.
The Marco Polo and Camfin combined list also included Pirelli executives Marco Tronchetti Provera and Andrea Casaluci; Chen Aihua, Beihang University; Zhang Haitao, general counsel of China National Tire & Rubber Co.; and Chen Qian.
Independent directors on the list included Alberto Bradanini; Michele Carpinelli; Domenico De Sole; Fan Xiaohua; Marisa Pappalardo and Grace Tang.
The two companies, which together own 51% of Pirelli's shares, also presented a number of proposals to be summited at the meeting.
Among other measures, the Pirelli shareholders proposed to cap the annual compensation of directors at $2.75 million.
A group of savings management companies and institutional investors that hold a 1.33% share in Pirelli presented their list of independent candidates, which included Roberto Diacetti, Paola Boromei and Giovanni Lo Storto.
