The BoD of Brembo approves the new governance structure: appointment of Executive Deputy Chairman and new Managing Director
June 06 2011 - 7:00AM
Italian Regulatory (Text)
PRESS RELEASE
Stezzano, 6 June, 2011 For immediate release
The B oar d of Dir ec t ors a ppr ov es the ne w g ov erna nc e st
ruc t ure : Ma tt e o Tirab osc hi a ppoin t e d Ex ec uti ve De
puty C hair man an d An dr ea Abb at i M ar escot ti t he n ew Ma
nagi n g Dir ec t or
At today's meeting, the Board of Directors of Brembo S.p.A.,
chaired by Alberto Bombassei, approved the Brembo Group's new
organisational structure with the aim of reinforcing the Company's
governance model, strengthening the top management team and
gradually initiating internal succession mechanisms. Effective 6
June 2011, Matteo Tiraboschi will assume the position of Executive
Deputy Chairman, while Andrea Abbati Marescotti will join Brembo as
Managing Director. Within the revamped management structure,
Chairman Alberto Bombassei will gradually take on a more strategic
and less operational role. "Our goal in enhancing Brembo's
management team is to support the Group's rapid international
growth also with the addition of new skills," explained Chairman
Alberto Bombassei. "I believe that thanks to the efforts of Matteo
Tiraboschi, Andrea Abbati Marescotti and the Company's current
management, we will be even better placed to seize the
opportunities and meet the challenges presented by an increasingly
global and competitive marketplace." Matteo Tiraboschi, who will
report to Chairman Alberto Bombassei, will set guidelines for the
Group's financial reporting and finances, human resources
management and organisational development while managing and
supervising business operations. Matteo Tiraboschi will continue to
act as the Group's CFO, a position he has filled since May 2009, in
the interim. Managing Director Andrea Abbati Marescotti, who will
report to Executive Deputy Chairman Matteo Tiraboschi, has been
charged with the task of proposing the direction of the Company's
future growth, taking direct responsibility for managing all the
business lines, business support functions and the Group's
international expansion. Andrea Abbati Marescotti, who holds a
degree in Electronic Engineering, has 20 years of experience in the
automotive industry at the Fiat Group in roles of increasing
complexity at an international level. For the past two years he was
CEO of UFI Filters, a leading manufacturer of filter systems for
the automotive industry that, owing in part to his efforts, has
achieved rapid international expansion, particularly in Asia.
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Andrea Abbati Marescotti, whose curriculum vitae is available at
www.brembo.com, joins the Board as a replacement for Bruno Saita
(who hold the position as non-executive and nonindependent
director), who resigned as director to devote himself to other
professional commitments. The Board of Directors and Brembo's top
management team express their most heartfelt gratitude to Bruno
Saita for his invaluable contribution to the Company.
For additional information: Investor Relations: Matteo Tiraboschi
Tel. +39 035 605 2899 e-mail : ir@brembo.it Media Relations: Monica
Michelini +39 035 6052173 press@brembo.it Media Relation
Consultant: COMMUNITY � Consulenza nella comunicazione Tel. +39
02 89404231 Giorgio Maugini � Mobile +39 348 3219 990 Marco
Rubino � Mobile +39 335 6509 552 Pasquo Cicchini � Mobile +39
345 1462429
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