The Shareholders’ Meeting approves the 2011 Financial Statements

New members join the Board of Directors and Board of Statutory Auditors: Enrico Carraro is the new Chairman, Tomaso Carraro has been appointed Deputy Chairman and Alexander Bossard is the Chief Executive Officer of the Group

Campodarsego (Padua), 20 April 2012 – The Shareholders’ Meeting of Carraro SpA, global leader in power transmission systems, has approved today ‐ under the chairmanship of Mario Carraro ‐ the 2011 Financial Statements and appointed a new Board of Directors for the 2012‐2014 period.

Enrico Carraro has taken over from his father Mario Carraro as Chairman, Tomaso Carraro is now Deputy Chairman and Alexander Bossard has been appointed Chief Executive Officer of the Group.

“With a considerable increase in turnover and above all a return to profits, 2011 has produced results thanks to the Carraro 2.0 Strategic Plan, which has generated a gradual and important recovery at all levels since it was launched. Today, we are levering our international production platform to an even better extent and focussing on product solutions with even greater added value. In this context, the mechanics sectors in particular have performed remarkably well. – said Enrico Carraro, the new Chairman of the Group – And the first few months of 2012 have continued this trend. In March, our core business increased by over 20% compared to 2011 ‐ which had already generated improvements ‐ and this mainly took place abroad ‐ which accounts for 87% of sales. Consequently, visibility for our orders portfolio also confirmed this trend for the first half of the year. In contrast, government choices and uncertainties still characterising the renewable energies industry, led to a considerable downsizing of the Electronics Business Unit”.

“In my new position as Chairman, I will continue with the Group’s long‐standing mission. – continued Enrico Carraro – Our Group must forge ahead with its growth strategy, investing in technologies to support development. We have already laid the foundations for further consolidating our competitive edge, but we must not become complacent. Our growth will always be a core driver in the choices I make, assisted by the Chief Executive Officer Alexander Bossard and my brother Tomaso”.

Go to Press release 20.04.2012

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Shareholders’ Meeting 20 April 2012

The deadline for the filing of lists of candidates for the appointment of the Board of Statutory Auditors (Sindaci) has been extended

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