Pirelli & C. SpA shareholders approved the Italian tyre manufacturer's 2024 annual report and a €250 million dividend distribution on Wednesday, despite opposition from the company's Chinese-controlled majority shareholder.

The Milan-based company's annual general meeting saw 86.27 percent of voting capital represented, with 57.07 percent approving the 2024 results that showed parent company net profit of €302 million and consolidated net profit of €501.1 million.

The sole dissenting voice came from MPI Italy, controlled by Chinese chemical giant Sinochem, which holds a 37.015 percent stake in the premium tyre manufacturer. MPI Italy's opposition accounted for 42.90 percent of the capital represented at the meeting.

Shareholders unanimously approved a dividend of €0.25 per ordinary share, totalling €250 million before withholding taxes. The dividend will be paid on 26 June 2025, with shares trading ex-dividend from 23 June and a record date of 24 June.

The meeting, held at Studio Marchetti in Milan with participation exclusively through an appointed representative, also approved several governance measures. The 2025 remuneration policy received backing from 80.09 percent of represented capital, whilst 78.67 percent supported the report on compensation paid in 2024.

Shareholders also endorsed a new three-year monetary incentive plan for 2025-2027 covering Pirelli Group management, with 79.97 percent of represented capital voting in favour.

The approval comes as Pirelli continues to navigate the complexities of Chinese ownership whilst maintaining its position as a premium tyre supplier to luxury automotive manufacturers. Sinochem acquired control of Pirelli in 2015 through a €7.1 billion takeover.

The company's financial performance reflects strong demand for high-performance tyres, particularly in the luxury and motorsport segments where Pirelli maintains significant market presence.

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Michelin has expanded its retail network in Rajasthan by opening a new Michelin Tyres & Services outlet in Bikaner. The facility results from a partnership with Bhagwati Tyres and is situated on Jaipur Road near the Khatu Shyam Temple. This location is intended to improve regional access to the company’s premium tyre products and advanced automotive care.

The 7,000-square-foot establishment functions as a contemporary mobility hub with customer-focused infrastructure. Shoppers can find high-end tyres for passenger cars and two-wheelers, while on-site technicians provide wheel alignment, balancing and nitrogen inflation. The official opening ceremony featured Annu Mehla, the North and East B2C regional sales head, alongside representatives from Bhagwati Tyres.

Bhagwati Motors Nokha Private Limited has operated in Rajasthan since 2006 and possesses more than 20 years of local market experience. The firm has made substantial investments in spacious retail spaces to elevate the tyre buying experience. Through its collaboration with Michelin, the enterprise seeks to offer tyre solutions that emphasise safety, longevity and strong performance, thereby aiding the region’s automotive sector.

Shantanu Deshpande, Managing Director, Michelin India, said, “As mobility aspirations continue to evolve across India, we are seeing growing demand for premium products and high-quality automotive services beyond traditional metropolitan markets. Bikaner represents an important growth market for Michelin in Rajasthan, driven by increasing vehicle ownership and a rising appreciation for performance and safety. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers.”

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LAUGFS Corporation (Rubber) Ltd, a prominent Sri Lankan manufacturer and exporter of high-quality industrial solid tyres, has announced the recent appointment of its Managing Director and Chief Executive Officer, Chinthaka Wegapitiya, as Sectoral Head for Rubber Tyres and Accessories. This prestigious designation was conferred by the National Chamber of Exporters of Sri Lanka.

The appointment underscores Wegapitiya’s leadership and dedication to advancing the nation’s export capabilities. In his new capacity, he is expected to tackle sector-specific challenges, promote collaborative efforts and drive strategic initiatives aimed at boosting the global competitiveness of Sri Lanka’s rubber tyre export industry. The company expressed confidence in his ability to excel in this important national role while anticipating continued progress for the sector.

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Apollo Tyres, the Lead Sponsor of the Indian National Cricket Teams, has launched a new campaign extending its ‘Har Safar Mein Dum Hai’ ethos to spotlight the Women in Blue. The initiative shifts focus from celebrated victories to the lesser‑seen, demanding journeys of female cricketers before they gained national recognition.

A newly released cinematic film captures the solitary and challenging paths of Harmanpreet, Smriti, Jemima, Shafali and Renuka, set to an original soundtrack. It highlights formative struggles such as a young Shafali cutting her hair to join boys’ academies, Harmanpreet defying deep‑rooted conventions, Smriti drawing inspiration from her brother, Jemimah practicing with boys and Renuka enduring long commutes to training.

The digital‑first campaign will be amplified across YouTube and Meta, supported by localised digital out‑of‑home, influencer collaborations and interactive social media activations. The rollout targets cricket enthusiasts through a comprehensive distribution strategy across high‑impact digital touchpoints.

Neeraj Kanwar, Vice Chairman and MD, Apollo Tyres Ltd, said, “‘Har Safar Mein Dum Hai’ has always been about celebrating the journey alongside the destination. As we carry this philosophy forward, with immense pride we share the untold stories of our Women in Blue. Their journeys, filled with courage and conviction, are a source of inspiration for the entire country. This campaign is a tribute to their unwavering spirit and our commitment to championing the values of perseverance and excellence, reflecting the same passion and respect we hold for all of Indian cricket.”

Simran Kanwar said, “Our vision was to create a film that felt distinct and deeply personal to the experiences of Harmanpreet, Smriti, Jemima, Shafali and Renuka. While it stems from the same ‘Har Safar Mein Dum Hai’ ethos, the storytelling is uniquely tailored to reflect their individual struggles and triumphs. Through intimate storytelling and an emotionally driven soundtrack, we wanted audiences to connect with the heart behind women's cricket in India, powerfully reminding millions of young women across the nation that their journeys matter.”

Udyan Ghai, Group Head, Marketing, Apollo Tyres Ltd, said, “This is not about replicating a formula; this campaign is a heartfelt extension of our core belief. The cultural momentum behind women’s cricket is undeniable, and we wanted to honour that by ensuring our storytelling was authentic and deeply connected to their unique experiences. With this chapter of ‘Har Safar Mein Dum Hai’, we are engaging audiences with stories of resilience that resonate universally, reinforcing that every journey to the top deserves to be celebrated with equal passion.”

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Pirelli will deploy its full range of tyre compounds across the upcoming Austrian and British Grand Prix races. For the Red Bull Ring event in Spielberg, teams gain access to the three softest mixtures in the range, designated C3, C4 and C5. The Silverstone race, however, sees a return to the hardest trio of C1, C2 and C3 compounds.

The Austrian circuit features the fewest corners and shortest lap time on the Formula One calendar, with heavy braking and acceleration zones. These characteristics generate predominantly thermal degradation in the tyres, while lateral loads on the axles remain low. Despite the track’s old and highly abrasive surface, pure tyre wear is not considered a decisive factor.

Silverstone adopts the Sprint weekend format this year and ranks among the longest circuits, dominated by high-speed corners that produce extreme lateral forces comparable to Suzuka and Spa-Francorchamps. Consequently, the front axle endures the highest stress, with the left-front tyre wearing more quickly due to the abundance of right-hand turns.

Pirelli serves as the title sponsor for the British Grand Prix weekend, a distinction it also holds for the Italian Grand Prix. This association links the manufacturer’s name with two of the most frequently held historic events in the Formula One World Championship.

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