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.