ZAVENTEM, Belgium—Bridgestone Corp. has hired Paolo Ferrari, CEO of Pirelli Tyre S.p.A.'s Latin American business, to be president and CEO of its Europe, Middle East and Africa business unit.
Ferrari joins Bridgestone after 4 ½ years with Pirelli. He succeeds Franco Annunziato, who previously held the position of CEO of Bridgestone EMEA, was appointed executive chairman and CEO of Bridgestone China Asia Pacific in January.
Ferrari, an Italian national, brings a wealth of global leadership experience to Bridgestone, both during his years with Pirelli and prior to that with Telecom Italia Group and Credit Suisse First Boston. He starts his new job Sept. 19.
Eduardo Minardi, executive chairman and acting CEO, Bridgestone Europe, Middle East, and Africa, called Ferrari a “proven global leader who will drive innovation, performance, and engagement while respecting Bridgestone's core values. Throughout his career, he has demonstrated his ability to drive profitable growth across industries and geographies while building capability within his teams.”
He will be a member of the Bridgestone Europe N.V./S.A. board of directors and executive committee.
Ferrari has been the top executive of Pirelli Latin America since February 2015. Prior to that, he was chairman and CEO of its North American Free Trade Area for three years.
Bridgestone EMEA operates 12 tire plants, an research and development center and offices in more than 60 countries with more than 18,200 employees.
Bridgestone Corp. reported sales in Europe last year of $3.45 billion last year, or roughly 11 percent of corporate global sales.