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Giorgio Luca Bruno named Pirelli’s next CEO

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.”

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Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. Pirelli industrial/consumer tyre business split continues
  3. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  4. Pirelli shareholders’ agreement renewed
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Cooper shareholders approve Goodyear merger

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Cooper shareholders approve proposed merger with Goodyear Cooper Tire & Rubber Company’s stockholders have voted overwhelmingly to approve the planned merger with The Goodyear Tire & Rubber Company. The vote was held at a special meeting of Cooper stockholders today. Cooper reports that approximately 99 per cent of votes cast were in favour of the transaction. Read our coverage of Goodyear’s acquisition of Cooper here, or in our special 12-page e-paper supplement.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Pirelli shareholders amend agreement, some parties end co-investment accord

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Pirelli’s largest shareholders have amended their ownership agreement and – at the same time – certain parties have ended their co-investment stance in relation to each other.

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Related news:

  1. ChemChina now holds 30% of Pirelli shares
  2. Pirelli major shareholder Chemchina restructuring
  3. Marco Polo/ChemChina buy almost 10 per cent of Pirelli shares
  4. ChemChina’s latest Pirelli shares held indirectly
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Tronchetti Provera re-confirmed as Pirelli executive vice chairman and CEO

Pirelli

As a result of its shareholder meeting on 18 June, the board of directors of Pirelli & C. SpA re-nominated Marco Tronchetti Provera as Executive Vice Chairman and Chief Executive Officer (CEO) attributing to him the powers for the operational management of Pirelli. Company chairman, Ning Gaoning, was given the authority of legal representation of the company.

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Related news:

  1. Rosneft makes its mark on Pirelli’s board
  2. Francesco Gori appointed as Apollo Tyres advisor for strategy
  3. Ning Gaoning tipped to become Pirelli’s new chairman
  4. Pirelli shareholders’ agreement renewed
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Michelin reducing 2019 dividend to €2

Michelin intends to reduce the dividend it pays shareholders for 2019. The tyre maker has outlined its decision, taken “in a commitment to optimally balance the interests of all its stakeholders”, to reduce the amount of the proposed dividend from the initially-announced 3.85 euros to 2 euros. Payment is scheduled for 3 July 2020.

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Related news:

  1. Michelin shareholders approve Menegaux, Chapot appointments
  2. Goodyear breaks through financial quagmire, reinstates dividend
  3. Michelin producing surgical masks in 10 European plants
  4. Michelin issues tyre advice for truck fleets facing extended lay up
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Pirelli shareholders’ agreement renewed

A three-year extension to the Shareholders’ Agreement covering the governance of Pirelli & C. S.p.A was agreed upon yesterday. This extension will take effect from the publication date of the notice convening the Pirelli shareholders’ meeting for approving the company’s 2019 financial statements.

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Related news:

  1. Pirelli in talks with a number of bidders before ChemChina deal
  2. Pirelli shareholders appeal for better ChemChina offer
  3. Ren Jianxin comments on Pirelli acquisition
  4. Pirelli signs R&D competitiveness agreement with regional government
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Shareholder approval for Sailun Jinyu name change

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The vast majority of Sailun Jinyu Group shareholders have approved the adoption of a new company name and changes to the company’s articles of association. Votes held during an extraordinary meeting of shareholders on 12 October resulted in a 99.1 per cent turnout in favour of both measures. The tyre maker will thus adopt the name Sailun Group Co., Ltd.

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Related news:

  1. Sailun denies Jinyu is planning a tyre factory in Turkey
  2. ZC Rubber still number one tyre manufacturer in China 
  3. Sailun Group extends capacity expansion project
  4. Sailun Group donates 10 million yuan to fight coronavirus
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Michelin shareholders approve Menegaux, Chapot appointments

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Attendees at the Michelin 2018 General Annual Meeting of Shareholders last Friday elected Florent Menegaux to the position of general managing partner and Yves Chapot as non-general managing partner. In each case, more than 99 per cent of voting shareholders voted in favour of the appointments.

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Related news:

  1. Florent Menegaux to succeed Senard as Michelin CEO next year
  2. Menegaux succeeds Senard as Michelin CEO
  3. Michelin reducing 2019 dividend to €2
  4. François Michelin dies
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Pirelli shareholders appeal for better ChemChina offer

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Following the news that ChemChina now controls (both directly and indirectly) 30 per cent or more of Pirelli shares with a view to buying as much as 70 per cent of the company, Italian news reports suggest a number of smaller shareholders are forming an alliance in order to push for a higher offer price from ChemChina.

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Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. EU gives ChemChina green light for Pirelli purchase
  3. Pirelli: Nokian merger rumours false
  4. ChemChina’s latest Pirelli shares held indirectly
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