Pirelli & C. S.p.A. announced that the Board of Directors of Pirelli proceeded with the co-option of Angelos Papadimitriou, replacing professor Carlo Secchi, who resigned, as communicated on July 31, 2020. Angelos Papadimitriou - who has declared not to be in possession of the independence requirements pursuant to the TUF and the Self-Regulatory Code and that he does not hold any share in the Company - has been qualified by the Board as executive director, as he is General Management of the Company. The Board also appointed the new Director as a member of the Strategies Committee, increasing the number of its components from seven to eight. In relation to the positions previously held by professor Carlo Secchi within the Board committees, the Board of Directors resolved: (i) as far as the Related Party Transactions Committee is concerned, to appoint Marisa Pappalardo as Chairman and Domenico De Sole as new member; (ii) for the Remuneration Committee, to appoint Marisa Pappalardo as new member and (iii) referring to the Audit, Risks, Sustainability and Corporate Governance Committee, to reduce the number of its members from six to five. On 23 July 2020 the Pirelli Board of Directors, in line with what was previously anticipated to the market on 15 July 2020, on the proposal of the Executive Deputy Chairman and CEO, Marco Tronchetti Provera and his direct report, constituted the office of General Manager co-CEO, entrusted to Angelos Papadimitriou with effective date 1st August 2020. In order to maximise operational efficacy, the General Manager co-CEO is assigned the executive levers and the general coordination of the support functions necessary for the implementation of the integrated business model and the achievement of business objectives.