Italy's Pirelli Real Estate said on Wednesday it has reorganised its board of directors as part of a review of the company's strategy in response to the 'changed scenario and prospects for the real estate sector'.
Italy's Pirelli Real Estate said on Wednesday it has reorganised its board of directors as part of a review of the company's strategy in response to the 'changed scenario and prospects for the real estate sector'.
Prelli RE said the actions will help it switch its focus from expansion to consolidation of the business. As a result, the management board will be restructured around two macro areas, Italy and Germany, which will be headed respectively by Rodolfo Petrosino and Paolo Bottelli, directly reporting to executive deputy chairman Carlo Puri Negri. In addition, Claudio De Conto has been given responsibility for financial supervision and direction.
Pirelli RE said the reorganisation is aimed at accelerating the relaunch of the company by focusing on the Italian and international core businesses, simplifying intermediate organisational levels, and reducing costs.
The board of directors also confirmed the date of February 11 2009 for the presentation of the group's three-year plan.
