Pirelli & Cie SpA’s board of directors has named Ren Jianxin to be chairman. He succeeds Marco Tronchetti Provera, who has resigned from the chairman position. Provera will continue as chief executive officer and executive vice chairman of the Pirelli board.
The changes in the board follow China National Chemical Corp.’s (ChemChina) acquisition of majority control of Pirelli. Jianxin is chairman, president and general manager of ChemChina.
In addition, Alberto Pirelli resigned as vice chairman but will remain on the board.
The board also named five members to replace five members who resigned effective Oct. 19.
The departing board members are Anna Maria Artoni, Didier Casimiro, Ivan Glasenberg, Petr Lazarev and Igor Soglaev.
In addition to Jianxin, the new board members are Yang Xingqiang, Wang Dan, Tao Haisu and Zhang Junfang.
The other members are BaiXinping, Ze’ev Goldberg, Andrey Kostin,Elisabetta Magistretti, Paolo Pietrogrande, Luigi Roth,Igor Sechin and Manuela Soffientini.
“I am delighted to welcome Ren Jianxin as chairman of Pirelli,” says Provera. “The entrance into the shareholder structure, alongside Camfin and our Russian partner, of ChemChina, which is also a global player in the tire industry, offers new opportunities for growth and development thanks to our complementary geographic footprints and the synergies that we will achieve in the industrial segment. Together with the management team, we will continue to run the company as we have until now, backed by a partner who offers new perspectives of growth above all in Asia and in particular China, markets of great strategic importance for Pirelli.”
For more information on ChemChina's acquistion of majority control of Pirelli, see “Pirelli sells stake to Chinese company.”
