July 15, 2020 / 8:09 AM / a month ago

Pirelli CEO proposes co-CEO as part of succession plan

MILANO, July 15 (Reuters) - Pirelli CEO Marco Tronchetti Provera will propose Angelos Papadimitrou, the current head of packaging machines maker Coesia, as general manager and co-CEO under succession plans due to be completed by 2023, the group said on Wednesday.

Papadimitrou, who will report to Tronchetti Provera, has previously worked for pharmaceuticals group GlaxoSmithKline and as head of the board of foreign investors at industry lobby group Confindustria.

A candidate to succeed Tronchetti Provera, who has led the Italian tyre maker since 1992, will be formally selected by Oct. 2022 and proposed by the first half of 2023, the company said in a statement.

The creation of the office of general manager and co-CEO will be proposed at a board meeting on July 23 and has already been shared with the chairman of the board Ning Gaoning and with board members, it said. (Reporting by Maria Pia Quaglia; editing by Jason Neely)

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