The board of directors of Pirelli SpA added four new members, according to news reports from Europe, including three executives from the tiremaker’s largest shareholder, Russian oil company Rosneft.
Reports say that Glencore CEO Ivan Glasenberg joined Pirelli’s board as an independent non-executive director. Glencore is an Anglo-Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland.
Also added to the Pirelli board were Rosneft President Igor Sechin, Vice President of Commerce and Logistics Didier Casimiro, and CFO Petr Lazarev.
Rosneft currently owns a 50% share in holding company Camfin SpA, which, in turn, owns 26.19% of Pirelli.