Reuters has reported that Pirelli SpA Chairman Marco Tronchetti Provera has resigned from the advisory board of the Libyan Investment Authority.
The resignation, according to the report, was due to the turmoil in Libya. "The decision has been taken in the face of the tragic events that are hitting the Libyan people," a Pirelli spokesman told Reuters.
The Libyan Investment Authority holds a 2.6% stake in UniCredit; the Central Bank of Libya owns some 5%.
Tronchetti Provera joined the investment fund in March 2009.