After Ferrari, Campari, Cementir and MFE – Media For Europe (formerly Mediaset) too Brembo moves its headquarters to the Netherlands, precisely in Amsterdam. The board of directors of the Italian brake giant has decided to submit to the general meeting of shareholders, convened on July 27, 2023, the proposal to transfer the registered office of the company to the Netherlandsadopting the legal form of a limited liability company (“naamloze vennootschap”), governed by Dutch law, with the subsequent adoption of the name of Brembo S.A.. However, Brembo’s tax office will remain in Italy and Brembo shares will also continue to be listed on the Milan Stock Exchange.

BREMBO: LEGAL OFFICE IN THE NETHERLANDS FOR THE INCREASED VOTING MECHANISM

The last two specifications are important because that of Brembo this is by no means an ‘escape’ from Italyensure its leaders, but a necessary operation »adopt a more flexible capital structure that is therefore more consistent with the company’s future development strategy”. Indeed, by transferring the head office to the Netherlands, Brembo will be able to introduce the mechanism of ‘increased vote”, a facility guaranteed by the Dutch legal system which rewards stable shareholders with increased voting rights at shareholders’ meetingfacilitating possible new acquisitions or mergers (in this respect, Brembo has long been the subject of rumors of a mega merger operation with Pirelli, of which it already holds 6% of the capital).

BREMBO: HEADQUARTERS IN THE NETHERLANDS BUT PRIORITY IN ITALY

“Brembo intends to continue growing and remaining competitive, to always be a protagonist in a changing global automotive market.“, commented the executive chairman Matthew Tiraboschi. “At the same time, the transfer of the head office to Amsterdam will not affect the activity, identity, culture and presence of Brembo in Italy and in the regions of the world where we operate. Brembo will maintain its tax office in Italy and all production and commercial sites will operate continuously. For the organization, the men and the management of the company, nothing will change and we will remain listed on the Italian stock exchange. Italy in particular is, and will also be in the future, the strategic priority for Brembo”.

IMPORTANT DAY FOR BREMBO

The announcement came on a particularly important day for Bembro as director of public affairs and member of the board of directors, Robert Vavassorihe was elected President of ANFIA, National Automotive Industry Supply Chain Association, for the four-year period to 2027 in place of outgoing Paolo Scudieri. A position he had already held from 2012 to 2015.