Milan, Italy – Pirelli & C. SpA’s board has agreed to appoint Angelos Papadimitriou as joint chief executive officer, the Italian group announced 23 July.
Papadimitriou’s appointment had been proposed by executive vice chairman and CEO, Marco Tronchetti Provera.
Prior to joining Pirelli, Papadimitriou was the CEO, of Italian packaging systems firm Coesia for ten years and was previously president and MD of GlaxoSmithKline.
The co-CEO position will take effect as of 1 Aug and cover “executive levers and general coordination of support functions,” said the statement.
The joint-leadership role is part of a “future succession path” intended to enhance Pirelli’s management structure, the company explained.
According to the tire maker, by October 2022 a candidate should be identified to be proposed as the new CEO of Pirelli in the first half of 2023.
Under the proposed "macro-organisational structure", the executive vice chairman and CEO will continue to head the direction and control of strategy and extraordinary operations.