Pirelli chairman resigns from Libyan Investment Authority board

Pirelli chairman Marco Tronchetti Provera has resigned from his position on the advisory board of the Libyan Investment Authority, which is the eighth largest shareholder of the multinational financial institution UniCredit, according to a Reuters report. The decision to resign came “in the face of the tragic events that are hitting the Libyan people,” according to a Pirelli statement. Tronchetti Provera has been on the LIA’s investment committee since March 2009.