According to people familiar with the matter, Italian officials are attempting to limit the influence Sinochem has on Pirelli. Reporting this development, Bloomberg shares that officials are speaking with Pirelli investors about a range of options related to corporate structure.
On 28 February 2023, Pirelli shareholder Camfin SpA and its parent Marco Tronchetti Provera & C. SpA (MTP/Camfin) signed a shareholder agreement with Brembo SpA and Next Investment Srl, together with its parent NuovaFourB Srl (Brembo). The agreement covers Brembo’s commitment to align its vote with that of MTP/Camfin, following prior consultation, on matters included in the agenda at Pirelli’s ordinary or extraordinary shareholder meetings.
Pirelli has awarded its Pirelli Supplier Award 2022 to nine of its more than 1,500 suppliers around the world. Honouring the recipients, the tyre maker states that each of the nine have “distinguished themselves in making Pirelli’s supply chain even more sustainable, innovative and qualitatively excellent.” Pirelli presented the awards during a ceremony at its headquarters in Milan.
Giorgio Luca Bruno will succeed Marco Tronchetti Provera as chief executive officer of Pirelli. In a statement published on Monday, Pirelli investor Camfin S.p.A announced that Bruno will take responsibility for the operational implementation of the group’s strategies, freeing Tronchetti Provera to guide group strategy and oversee the implementation of the Pirelli business plan as executive vice-chairman, a role he is confirmed to hold until spring 2026. Camfin views the transition as one that ensures the “continuation of the managerial culture of Pirelli.”
The Science Based Targets initiative (SBTi) has validated Pirelli’s upgraded targets for reducing greenhouse gases. Four years ahead of schedule, the company reached the previous targets validated for Scopes 1 and 2 by the end of 2021.
Pirelli has again been awarded gold with its confirmation as Gold Class in the Sustainability Yearbook 2022, published by S&P Global and based on the assessment of the sustainability profiles of over 7,500 companies.
The President of Italy has received a delegation from Pirelli, headed by executive vice-president and chief executive officer Marco Tronchetti Provera, to mark the company’s upcoming 150th anniversary. Tronchetti Provera described the meeting with President Mattarella as a “great honour” for him and the Pirelli contingent.
Pirelli & C. SpA views its inclusion in CDP’s its Climate A list 2021 as confirmation that it is a “global leader in the fight against climate change.” It is one of just three tyre makers to gain a place on the international non-profit organisation’s list, the others being Bridgestone Corporation and Michelin Group.
A decade after the first agreement, Pirelli, Milan Polytechnic and Polytechnic Foundation have signed off a three-year continuation of their ‘Joint Labs’ programme, which centres upon research projects that advance tyre-related technological innovation.
Every year, Pirelli awards just nine of the more than 14,000 suppliers throughout its global chain for distinguishing themselves in making the tyre maker’s supply chain even more sustainable, innovative and of the highest possible quality. Announcing the recipients of its 2021 Supplier Awards, Pirelli says the main selection criterion was care for the environment through an increasingly sustainable supply chain – with lower CO2 emissions, high quality, innovation, speed and global presence.
The executive vice chairman and CEO of the Pirelli Group, Marco Tronchetti Provera, was recently named as a Commander of the Romanian order of “Industrial and Commercial Merit” in appreciation of his “important contribution to the strengthening of the bilateral relationship” between Romania and Italy.
Pirelli has become one of 37 companies confirmed as Global Compact LEAD of the United Nations. The tyre manufacturer is the only company in the Automobiles & Parts sector at the global level. The Global Compact LEAD gathers the groups with the greatest commitment in the world to the implementation of the Ten Principles of the Global Compact of the United Nations.
Pirelli has hosted the governor of the Mexican state of Guanajuato, which hosts one of Pirelli’s most technologically advanced industrial hubs, at its Milan headquarters. Diego Sinhue Rodríguez Vallejo discussed the latest $36 million plan, which would bring the tyre manufacturer’s annual production capacity to 7.2 million tyres in Silao, Mexico, with Marco Tronchetti Provera, executive vice chairman and CEO of Pirelli, and the company’s top management. The governor also visited the Research & Development center and the Fondazione Pirelli. Luigi De Chiara, the Italian ambassador in Mexico, and Carlos Garcia De Alba, the Mexican ambassador in Italy, also participated in the visit.
The restructuring of Sinochem Group Co., Ltd. and China National Chemical Corporation Ltd. (ChemChina) has resulted in the establishment of a new entity, Sinochem Holdings Corporation Ltd. (Sinochem Holdings). As of 8 May 2021, both Sinochem Group and ChemChina became wholly-owned subsidiaries of the new state-owned enterprise, which is said to be the world’s largest chemical conglomerate.
Restrictions during the COVID-19 pandemic threw a spanner into the works of Pirelli’s plan to introduce 18-inch tyres for the 2021 Formula 1 season. To accommodate this delay, the FIA and Formula 1 have proposed that Pirelli extend its existing exclusive tyre supply contract by one further year. Pirelli has agreed to this.
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