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In 2015, China National Chemical Corp. Ltd. took controlling interest of Pirelli; with the Chinese state-owned company agreeing to maintain the tyre company's ownership structure until 2023. Pirelli has been sponsoring sport competitions since 1907 and is the exclusive tyre partner and supplier for the Grand-Am Rolex Sports Car Series for 2008 ...
He was the chief executive officer of Pirelli & Co. S.p.A. from 1992 [1] to 2022 [2] and its executive vice chairman since October 20, 2015. He is the chairman of Marco Tronchetti, Provera & C. S.p.A., a holding that he controls and which indirectly holds 50% of Camfin S.p.A. (where he was Chairman until December 2013).
After regulations liberalized the import of crude and fuel products in China, the company opened a trading office in Singapore in October 2013. [8] In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina for the world's fifth-largest tyre maker. [9] [10]
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After restructuring the organisation of the group's internal activities, the company decided to sell down its investment in the cable market. The figure negotiated was EUR 1.3 billion: Goldman Sachs gave Pirelli 225 million and the rest (more than one billion) was a debt that would be paid off the back of the new business. [10]
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Steward-ownership is a corporate ownership structure that prioritizes the long-term independence [14] and purpose of a company. [15] While the legal implementation may vary, all steward-owned companies make a legally binding commitment to two core principles: [9] [16] self-governance and purpose-driven profit allocation.