MILAN—Pirelli & C. SpA's board has agreed to appoint Angelos Papadimitriou as joint CEO, a move that had been proposed by Marco Tronchetti Provera, executive vice chairman and CEO.
Papadimitriou is expected to step into his new role Aug. 1 and will cover "executive levers and general coordination of support functions," acorrding to a statement from the tire maker.
His appointment to the co-CEO role represents a step forward in Pirelli's succession plan, which is intended to enhance the company's management structure. By October 2022, the tire maker expects to name a candidate who will become the new CEO of Pirelli in the first half of 2023.
Under the proposed "macro-organizational structure," the executive vice chairman and CEO will continue to head the direction and control of strategy and extraordinary operations.
Prior to joining Pirelli, Papadimitriou was the CEO, of Italian packaging systems firm Coesia for 10 years and was president and MD of GlaxoSmithKline.