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Pirelli implements new organizational structure

The Board of Directors of Pirelli have reviewed and approved a new organizational structure for the Group. Coherently with the strategy and aim of the 2009-2011 industrial plan to focus on the core business, the company decided to simplify its organizational structure and regroup all activities directly supporting the core business under a new "Tyre and Parts" Department, to be headed by Francesco Gori, who also maintains his role as CEO and managing director of Pirelli Tyre.

The reorganization will allow for significant downsizing of the corporate level structures, with savings, once the reorganization is completed, of at least 10 million Euros on an annual basis starting in 2010, and regrouping of operating activities necessary for growth of the core business: tires (Pirelli Tyre) and filters (Pirelli Eco Technology) within the new department, thus ensuring one single management of corporate processes. This department will incorporate the activities of purchasing, administration and control, Pirelli labs, advertising and events, human resources, health, safety & environment (which also reports to the Group General Counsel), and the Service Centers for information technology and administrative activities.

In addition to the new department, the following will report directly to the Chairman:
the Group General Counsel, Francesco Chiappetta, who will be in charge of, in addition to legal and corporate affairs, group compliance, the risk officer, industrial property, and security; the finance department, led by Francesco Tanzi, who joins the Group and who will be in charge of finance, tax, budget, risk management and M&A. Francesco Tanzi was also appointed by the Board of Directors to be the manager mandated to draft corporate accounting documents; the Institutional and Cultural Affairs Department, headed by Antonio Calabrò;
the Image and Brand Extension Department, headed by Andrea Imperiali;
the Investor Relations Department, headed by Valeria Leone;
the Media Communications Department, headed by Maurizio Abet.

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