Pirelli Top-Shareholder Sinochem Votes Against 2024 Results (1)

Pirelli & C. SpA’s biggest shareholder, Sinochem International Corp., escalated a clash among the Italian tiremaker’s owners by voting against the approval of last year’s financial results.

The Chinese group was the only shareholder that didn’t approve the 2024 report at a meeting in Milan on Thursday, according to a press release. The annual report was approved at the shareholder meeting with 57% of the votes.

Pirelli is currently facing a stalemate between its Italian owners and Sinochem over how to reduce the Chinese group’s influence on governance and strategy. Pirelli in April declared that Sinochem no longer ...