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De' Longhi, the CEO leaves

Massimo Garavaglia abandons "for personal reasons"

The CEO of De 'Longhi, Massimo Garavaglia, will leave the post "for personal reasons", as announced in a press release from the group. The resignation will be effective from 31 August next and the company has started the procedures for the succession. In any case, the group recalled, the president Giuseppe de 'Longhi holds the same powers of ordinary and extraordinary administration that are vested in the CEO, the same as those of the vice president Fabio de' Longhi in case of absence or impossibility of the CEO. 

Garavaglia had been in office since 1 May 2020. Last 20 April it was confirmed by the shareholders' meeting. "It is with great regret - is his comment - that in spite of myself, for personal reasons, I leave this extraordinary group that I have had the privilege of leading in the last two years". 

For his part, the chairman Giuseppe de' Longhi on behalf of the board of directors and the whole company thanked "Dr. Massimo Garavaglia for the work and professionalism shown in the role of Chief Executive Officer and General Manager De' Longhi and for the important work carried out, which contributed to the achievement of the group's excellent results".

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