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Rosneft execs get Pirelli board seats

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MILAN, Italy (July 11, 2014) — Six executives with or associated with Russia’s Rosneft Oil Co. have been appointed to the board of directors of Pirelli & C. S.p.A.

Rosneft and a series of allied companies acquired in March what amounts to a 13-percent stake in Pirelli.

The tire maker and Rosneft are involved in a series of cooperation deals, including raw materials supply and the installation of retail stores in Russia.

The new board members are:

Igor Sechin, president of Rosneft and chairman of Rosneft’s management board; Didier Casimiro, vice president for commerce and logistics at Rosneft; Andrey Kostin, president and

chairman of the management board and a member of the supervisory council of VTB Bank; Ivan Glasenberg, CEO of Glencore Xstrata P.L.C.; Petr Lazarev, financial director at Rosneft; and Igor Soglaev, president, C.J.C.S. Novokuibyshevskaya Petrolchemical Co.

These individuals replace board members Claudio Sposito, chairman and CEO of Clessidra SGR S.p.A.; Riccardo Bruno, a directof of Clessidra;  Piero Alonzo, technical adviser of the Tribunal di Roma; Emiliano Nitti, general counsel, Clessidra; Luciano Gobbi, Pirelli’s chief financial officer; and Enrico Parazzini, CEO of Camfin S.p.A., who tendered their resignations.

Pirelli did not elaborate on the reasons for the changes.

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TB Reader Poll

Previous | Published January 28, 2016

Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?

I wholeheartedly support their action – something needs to be done.
46%
(36 votes)
I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.
13%
(10 votes)
I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.
24%
(19 votes)
I’m kind of on the fence and not sure what’s right, but need more information before deciding.
14%
(11 votes)
I don’t really care whether or not relief is granted.
3%
(2 votes)
Total votes: 78