(Provides dropped phrase in Bruno’s first identify in lead paragraph)
MILAN -Pirelli investor Camfin mentioned on Monday that it and fellow shareholder ChemChina have indicated Giorgio Luca Bruno, the Italian tyremaker’s deputy chief govt officer, as the corporate’s new CEO from the spring of subsequent 12 months.
Camfin and ChemChina agreed that the present CEO, Marco Tronchetti Provera, can be the corporate’s govt vice chairman from subsequent 12 months till the spring of 2026, Camfin mentioned.
Tronchetti Provera will information Pirelli’s technique and oversee the implementation of its marketing strategy in addition to retaining the corporate’s relationships with shareholders, establishments, traders and the media, Camfin mentioned in a press release. Bruno will probably be accountable for the operational implementation of the group’s methods, it added.
Camfin and ChemChina, which respectively maintain 14% and 37% stakes in Pirelli, additionally agreed a three-year extension, from spring 2023 to spring 2026, of a shareholders pact governing Pirelli, Camfin mentioned.
China’s Silk Highway Fund, which holds a 9% stake in Pirelli and is a component of the present shareholders’ pact governing the tyremaker, is not going to be a part of the brand new pact efficient from subsequent 12 months. The brand new pact will management a joint 51% stake in Pirelli, down from round 60% now.
Post a Comment