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A few days after the Italian government intervened to reduce Chinese influence on the firm, Pirelli investor Camfin has recommended Andrea Casaluci as the new CEO of the Italian tiremaker, promoting him from a general manager position.

Giorgio Bruno, the Pirelli deputy CEO who had been in line to become the company’s CEO, decided to pursue his own commercial interests, according to a statement from Camfin, which led to the nomination of Casaluci on Tuesday.

At a shareholder meeting on July 31, Marco Tronchetti Provera will want to continue serving as Pirelli’s executive vice chairman through his investment company, Camfin. He has overseen Pirelli since 1992.

Sinochem of China, which holds a 37% stake in Pirelli, is the company’s largest shareholder, but the Italian government intervened this week to ensure that Camfin, which owns only 14.1%, picks the CEO and retains significant power.

Bruno, 63, and Casaluci, 13 years his junior, have both worked closely with Tronchetti Provera at Pirelli, a well-known company name in Italy and a supplier of tyres for Formula One racing.

Bruno, according to an investor who requested to remain anonymous, always came across as a low-key character who didn’t interact much with shareholders.

Contrarily, Casaluci has consistently sat by Tronchetti Provera’s side throughout Pirelli presentations, giving the impression that he is the one who would ensure the continuation of his strategic line, according to the investor.

Although they are both good managers, Casaluci—and not Bruno—seems to be Tronchetti’s natural successor.

The government of Prime Minister Giorgia Meloni announced last week that it had taken steps to reduce Sinochem’s control over Pirelli in accordance with “Golden Power” regulations intended to safeguard national strategic assets at a time when ties between China and Western nations have shifted into a more contentious state.

Tronchetti was able to maintain control of Pirelli thanks to the intervention, which did not result in a freeze on Sinochem’s voting rights or a decrease in stakes.

As part of the measures, Camfin was given limited authority to meddle with Sinochem’s management of the group while continuing to choose the CEO and set the company’s strategy.

Rome added that Sinochem would choose eight of the board’s fifteen members, leaving four for Camfin.

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