Pirelli strips China’s Sinochem of control in attempt to avert exclusion by Trump in US

Pirelli sidelines China’s Sinochem over control of the Italian tyremaker

The governance status of the Chinese conglomerate has been downgraded following a request from Italian regulators.

Pirelli strips China’s Sinochem of control in attempt to avert exclusion by Trump in US

Board’s vote is only a first step to ending tyre company’s links with Chinese state-owned group

Pirelli's Strategic Shift: Navigating Governance and Expansion Challenges

Pirelli's Strategic Shift: Navigating Governance and Expansion Challenges In a significant corporate governance shift, Italy's Pirelli announced on Monday that it is no longer under the control of China's Sinochem. The decision follows Italy's 'golden powers' intervention, aimed at reducing Sinochem's influence and easing Pirelli's plans for U.S. market expansion.Pirelli's Chinese and Italian shareholders have long been at odds, and the resoluti…

First step, but not decisive, in the path of the necessary adaptation of corporate governance to the regulatory constraints in the US, explains Bicocca. The Chinese: "We have the quotas to dominate the assembly"

Clash in the Pirelli group over control of the company. The board of directors decided this morning to relinquish control of Sinochem (a holding company controlled by the Chinese government), “in accordance with accounting standard IFRS 10 (on control of companies, ed.), with a majority vote.” But the Chinese partner opposes it and expresses “deep disappointment and firm opposition regarding the assessment of control expressed.” The shareholding…

Pirelli to Say China’s Sinochem No Longer Controls Tiremaker

Pirelli & C. SpA took an initial step in a contentious bid to distance itself from its main investor, deciding on Monday that China’s Sinochem no longer has control over the Italian tiremaker, according to people familiar with the matter.