London – UK tire distributor Fintyre Group has named former CEO Mauro Pessi as executive chairman and Claudio Passerini as the group's new chief executive officer.
In a statement 8 Oct, the former European Fintyre Distribution Ltd, said it is now implementing a new operating model that divides its wholesale country divisions and retail European operations.
In addition, the London-based distributor is also implementing a leadership succession plan, following significant growth in recent years.
The US investment firm Bain Capital acquired Fintyre in March 2017, and purchased German distributor Reiff Tyre & Automotive Technology later that year.
As executive chairman, Mauro Pessi will continue to be involved as Board member and contribute to the long-term strategic direction of the company, working in close cooperation with Bain Capital.
In his new role as executive chairman, he will focus on the overall strategy than day to day operations, to deliver further expansion.
Taking over as group CEO, Passerini will continue to maintain his responsibility for Germany wholesale business.
Passerini will work to further strengthen the distinctive positioning of Fintyre Group inside the tire market and to meet the company's “aggressive pan-European growth targets”.
Passerini joined the Fintyre Group in 2017 with the role of chief executive officer – Germany, responsible for the Group’s activities in Germany.
Graduated in Business Administration from the Luigi Bocconi University of Milan, he has been working in the automotive sector since 2005 and has previously worked for companies such as Pirelli Tyre and FCA Group.