Pirelli’s ownership structure will remain intact till 2023

Pirelli’s ownership structure will remain intact till 2023

Shareholders of Pirelli have agreed to maintain the Italian tyre company’s ownership structure until 2023. ChemChina-controlled Marco Polo (45.52 percent), Camfin/Marco Tronchetti Provera (10.05 percent), Long-Term Investments Luxembourg S.A. (6.24 percent) are the major shareholders of Pirelli. The remaining 38.19 percent of the shares are free-floating.

The shareholders agreed to extend Marco Tronchetti Provera’s tenure as executive vice-chairman and CEO until 2023. Tronchetti Provera will have to “activate” the succession procedure by October 2022 and designate his successor six months before the renewal of the Pirelli board of directors in spring 2023, media reports said.

For the new Pirelli board, the partners have agreed that nine board members, including four independent individuals, will be designated by China National Rubber Co.


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