Continued Pirelli and Sinochem governance contention could end in an ultimatum
During the last week it emerged that the ongoing governance tensions between Pirelli and its major shareholders Camfin (controlled by Marco Tronchetti Provera) and Marco Polo International (which is controlled by Chinese petrochemical major, Sinochem) remain.
On 14 May 2025, Camfin released a note supporting Pirelli’s “strategies” as published in the Italian tyremaker’s first quarter 2025 financial results. The context is Pirelli’s announcement that Sinochem’s control of Pirelli ended at the April. Sinochem subsequently contested that.