MILAN—Pirelli & C. S.p.A. Chairman Ren Jianxin has resigned from all roles held on the company's board, two weeks after announcing he was retiring as chairman of China National Chemical Corp. (ChemChina), Pirelli's largest shareholder.
Ning Gaoning, who has been named as the new chairman of ChemChina, will take over the leadership position at Pirelli.
Marco Tronchetti Provera, Pirelli executive vice chairman and CEO, will submit a proposal to a scheduled board meeting to nominate and appoint Ning Gaoning as chairman.
Ren succeeded Tronchetti Provera in 2015, who has resigned from the position in the wake of ChemChina's acquisition of majority control of Pirelli.
Ren founded ChemChina in 1996 by taking control of more 100 chemical factories, which were facing financial troubles at the time.
Under his leadership, ChemChina made a number key acquisitions in Europe, including the $7 billion takeover of Pirelli in 2016.