Ducati Appoints New CEO: Gabriele Del Torchio2007-05-21 11:39
Today, the Board of Directors of Ducati Motor Holding S.p.A. (Borsa Italiana: DMH; NYSE: DMH) appointed Mr. Gabriele Del Torchio as the new Chief Executive Officer of the Company, vesting him with the executive powers relating to the ordinary management of the business and affairs of the Company in accordance with the general and special budgets approved by the Board of Directors.
The Board, moreover, appointed Mr. Giampiero Paoli as Chairman of the Company.
Therefore, the Board of Directors decided to implement the Corporate Governance Code adopted by Borsa Italiana and resolved to establish a corporate governance system tuned to the market's
expectations and based on a Chairman, entrusted with the role of organizing and coordinating the activities performed by the Board of Directors, and a Managing Director, vested with the executive powers relating to the management of the Company.
Mr. Del Torchio and Mr. Paoli accepted their appointment.
The new Company's executives have thanked Mister Federico Minoli for his contribution over the past years at the head of Ducati Motor Holding S.p.A.
The newly appointed CEO has emphasized: "I am delighted and honored to take on this new
important professional challenge today. Ducati is a national champion appreciated all over the world and joining a team that has achieved such great success is a stimulus to do well. Ducati's primary objective, today and for the future, is to keep relying on the distinctiveness of its products, true icons on the international motorcycling arena, offering its clientele ever increasing quality, reliability and technological innovation.
The Corse division, an area of excellence for Ducati, will continue to provide a steady foundation for the company. Using the "know-how" perfected on the track means injecting our core product with the extra that gives us a significant advantage over our competitors both now and in the future. Ducati is set to achieve further growth and efficiency, higher revenues and greater profitability. The results yielded by the turn-around, achieved by the management over the last year, should be encouraging for more shareholder satisfaction".
In light of the executive powers delegated to him, Mr. Del Torchio qualifies as an executive director of Ducati Motor Holding S.p.A., while Mr. Paoli is a non-executive director. Mr. Gabriele Del Torchio's and Mr. Paoli's curriculum vitae are available at the Company's registered office.
As of the date of their appointment as Managing Director and Chairman, Mr. Del Torchio and Mr. Paoli held no shareholdings in Ducati Motor Holding S.p.A. and in its subsidiaries.
Source: Ducati Motor Holding S.p.A.
Click here to visit our forums to discuss this story