On Aug. 7, 2018, the Pirelli & Cie SpA board of directors, upon the proposal of the Executive Vice Chairman and CEO Marco Tronchetti Provera, proceeded with the election of Ning Gaoning as the new chairman of Pirelli.
Gaoning replaced Ren Jianxin, who resigned on July 30, 2018.
Gaoning -- who declared that he “did not possess the requisites to qualify as independent pursuant to the Finance Consolidation Act and the self-regulatory Code of Conduct” -- was qualified by the board as a non-executive director and has been assigned the legal representation of the company pursuant to Pirelli’s Articles of Association. The board also appointed the new director as a member of the Nominations and Successions Committee.
In July, Gaoning replaced Jianxin as chairman and secretary of the Party Committee of China National Chemical Corp. Ltd. (ChemChina), Pirelli’s largest shareholder. Jianxin was also a director of ChemChina.
Jianxin co-founded Bluestar Co., the forerunner of ChemChina, in 1984. Bluestar was China's first professional cleaning company. In May 2004, ChemChina was established by reorganizing Bluestar “and the enterprises directly under (the) former Ministry of Chemical Industry,” said ChemChina.