Published by Global Banking & Finance Review®
Posted on April 15, 2026
2 min readLast updated: April 16, 2026
Add as preferred source on GoogleItaly’s golden‑power curbs on Sinochem’s influence in Pirelli—limiting its board representation and barring top roles—are aimed at preserving Pirelli’s competitiveness in the U.S. market amid tightening U.S. restrictions on Chinese-linked technologies.
MILAN, April 15 (Reuters) - Curbs set by Italy's government to limit Chinese shareholder influence over Pirelli will allow the tyre maker to compete in the U.S. market, industry minister Adolfo Urso was quoted as saying on Wednesday by news agency ANSA.
Among terms set last week by Rome under golden power rules designed to protect the national interest in corporate matters, Pirelli's largest investor Sinochem is entitled to name only three representatives to the tyre maker's board.
Board members appointed by Sinochem will also not be allowed to hold top corporate roles such as chairman or CEO.
The government ruling came at the height of a governance spat, with Italian investors and Pirelli itself claiming that Sinochem's ownership position was jeopardising the group's potential to expand in the U.S., where authorities are implementing new rules to cut the use of Chinese technologies in the automotive sector.
"What is important for all Pirelli shareholders, for Pirelli employees and for the company is that they could maintain their initiative in the most promising market, that of the United States, and thus compete effectively with a cutting-edge technology in the global market," Urso said during an event in Rome.
Pirelli specialises in the premium segment of the market and, among its products, sells so-called cyber tyres, which incorporate sensors allowing for the collection of data whilst the vehicle is in motion.
The company declined to comment on Urso's remarks.
Earlier this week Chinese state-owned Sinochem said it might lodge a legal appeal against curbs set by Italy's government.
Sinochem, which produces and trades chemicals and fertilisers, is Pirelli's largest shareholder with a 34% stake. Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, holds around 26%, with plans to increase it to 29.9%.
(Reporting by Giulio PiovaccariEditing by Keith Weir)
Italy's government set restrictions to limit Sinochem's influence on Pirelli under golden power rules to protect its national interests and corporate governance.
Sinochem can now appoint only three representatives to Pirelli's board, and these board members are barred from holding top corporate roles like chairman or CEO.
The government's curbs enable Pirelli to maintain its initiatives and compete effectively in the US market without concerns over Chinese ownership.
Pirelli specialises in the premium tyre segment, including cyber tyres equipped with sensors to collect vehicle data in motion.
Sinochem has indicated it may lodge a legal appeal against the restrictive measures imposed by Italy's government.
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