OTHER DIRECTORS

The Board of Directors has considered that the Chairman of the Board of Directors, Marco Tronchetti Provera and the Deputy-Chairman, Alberto Pirelli are Executive Directors, the latter by virtue of his operative positions in the subsidiary Pirelli Tyre.

Several working lunches were organised during the financial year designed to examine in greater detail specific business and corporate governance issues, to increase the knowledge of all Directors concerning the Company’s reality and dynamics and in compliance with the recommendations of the Self-Regulatory Code29 and with what is now a consolidated practice within the Company.

Moreover, after the Board of Directors was reappointed during the 2011 financial year, the Company initiated a specific orientation plan (so-called induction plan) for the new Directors elected at the date the Board of Directors was reappointed.

In particular, a meeting of the Independent Directors (including the newly elected Directors) was organised with the General Manager for an overview of Pirelli’s business areas and to examine in detail the features and the specific aspects of the tyre market, the product segments of interest to Pirelli and the geographical areas where Pire lli operates.

In addition, the newly appointed members of the Committee for Internal Control, Risks and Corporate Governance attended independent and specific induction meetings with the Designated Internal Control Officer, with the Risk Officer and with the Compliance Manager; while the Remuneration Committee (completely renewed following the Board of Directors’ reappointment) met, also informally, to initiate a structured detailed study of the Remuneration Policy, and in general, to understand the principal drivers, and in particular, to analyse the Remuneration structure of the Chairman, the General Manager and the other Executives with strategic responsibilities.

29Self-Regulatory Code: Application criterion 2.C.2.