MILAN, March 24 (Reuters) - Italy’s Pirelli said on Wednesday its Chief Executive Marco Tronchetti Provera had proposed Giorgio Luca Bruno as new deputy-CEO, with the task of supporting the tyre-maker’s new business plan to be presented at the end of the month.
Shareholders will vote on his appointment as both deputy CEO and board member at the company’s annual meeting (AGM) on June 15, Pirelli said in a statement.
Bruno - who is the current head of Prometeon, the tyre-maker that includes Pirelli’s former industrial vehicle business - is set to take office at Pirelli after the AGM.
Pirelli will present its new business plan to 2022 on March 31.
“The proposal ... also aims to strengthen the management team in consideration of the future succession pathway,” Pirelli said.
It follows the decision earlier this year of Pirelli’s General Manager and co-Chief Executive Angelos Papadimitriou to leave his position after just six months in the job.
Pirelli said on Wednesday Papadimitrou would also withdraw from the board, to make the position available for Bruno.
Papadimitriou was appointed in July last year and analysts had seen him as a candidate to become Pirelli’s CEO once Tronchetti Provera’s term expires in 2023. (Reporting by Giulio Piovaccari; editing by Barbara Lewis)
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