July 30, 2019 / 7:43 AM / 20 days ago

Pirelli investors renew shareholders' agreement until 2023

MILAN, July 30 (Reuters) - Italian investment vehicle Camfin and Pirelli’s Chinese shareholders, led by state-owned ChemChina, have reached an agreement to renew to 2023 a shareholder agreement for control of the Italian tyre-maker.

Under the agreement, Chief Executive Marco Tronchetti Provera will continue to head Pirelli and help designate his successor by October 2022, Camfin and ChemChina said in a joint statement on Tuesday.

Chinese investors jointly hold 45.5% in Pirelli while Camfin holds 10%. (Reporting by Giulio Piovaccari Editing by Mark Bendeich)

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