Sinochem Holdings appoints new chairman

A significant leadership change has taken place within the company closely linked with Pirelli, Aeolus and Prometeon Tyre Group. During an executive meeting that Sinochem Holdings held this morning for middle and senior management, a representative from the organisation department within the Chinese Communist Party’s Central Committee announced that Ning Gaoning is no longer chairman of the company’s board, nor is he secretary of Sinochem’s leading party group. The representative shared the decision of China’s central government that Li Fanrong would take over both positions.

Ning Gaoning, also known as Frank Ning, became chairman of state-owned enterprise Sinochem Holdings upon its creation through the restructuring of restructuring of Sinochem Group and China National Chemical Corporation (ChemChina) in 2021. He was also appointed chairman of the board at Pirelli in August 2018. Prior to becoming chairman of Sinochem group in January 2016, Ning was chairman of COFCO Corporation from 2004 to 2016 and vice-chairman and president of China Resources (Huaran) from 1998 to 2004.

Introducing Li Fanrong, Sinochem says the new chairman and secretary has “extensive working experience in petrochemical industry.” Immediately prior to taking on his current posts, Li Fanrong served as board director, president and deputy secretary of China National Petroleum Corporation’s party leadership group, and concurrently as vice-chairman of PetroChina Company.

Through its ChemChina subsidiary, Sinochem Holdings owns China National Tire & Rubber, which in turn is the controlling shareholder of Pirelli as well as Aeolus Tyre and Prometeon Tyre Group.