MILAN, Italy — Investors holding the majority of Pirelli & C. S.p.A.'s have indicated that current co-CEO Giorgio Luca Bruno is expected to take over as CEO of the Italian tire maker by spring 2023.
The announcement was made May 16 by Camfin S.p.A., which stated that China National Chemical Corp. (ChemChina), China National Tire & Rubber Corp. (CNRC) and Marco Tronchetti Provera had renewed a shareholder pact with regards to the governance of Pirelli.
As a result, Marco Tronchetti Provera will continue as executive vice chairman of Pirelli until spring 2026, while Bruno is indicated as the next CEO, to take over following the company's approval of the board in spring 2023.
Tronchetti Provera will have the power to guide group strategy and oversee the implementation of the Pirelli business plan. Bruno will be responsible for the operational implementation of the group's strategies.
The former Prometeon Tyre Group chief joined the Pirelli board in March 2021.
He holds a degree in company economics from Milan's Bocconi University, and joined Pirelli in 2008 where he was in charge of corporate development and diversified businesses.
In 2013, he became the executive chairman of estate management company Prelios, which was subsequently divested.
More recently, he dealt with the process of separating Pirelli's industrial business into Prometeon Tyre, part of the ChemChina group. In 2017, he became the chairman of Prometeon and in January 2018 he became its CEO.
Pirelli's shareholder's agreement will come into effect in spring 2023 and will be in place for a further period of three years until spring 2026.
