The Board of Directors of Pirelli & C. S.p.A. met and, by a majority of 9 votes to 5, agreed with CEO Andrea Casaluci’s assessment that the Cyber Tyre activities should continue to be fully integrated within the Pirelli Group, rejecting any proposals for compartmentalization, separation, or segregation of the business. The Board emphasized that segregation of Cyber Tyre would undermine the company’s integrated business model, destroy competitiveness, and reduce financial solidity. Additionally, the Board acknowledged notifications submitted to Italian authorities regarding the failed renewal of the shareholder pact with Sinochem Group, which expires on 18 May 2026, as required by the Golden Power Decree. The Board also noted CNRC’s notification to authorities about the failed renewal of the shareholder agreement and proposals regarding potential corporate segregation of the Cyber Tyre business and changes to the Board nomination mechanism, both subject to further evaluation and legal conditions.

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