A company without a CEO, but with a team of seven people to lead the group. An atypical choice that of Azimut which seems to have wrong-footed the market which is trying to take measures against a decision which is unique in the Italian panorama.
At Piazza Affari, the title puts an end to the rally of recent months (+62% in 2019) and drops 1,8%, returning below the 15 euro mark.
The announcement came today through a note. The company chaired by Pietro Giuliani will not replace the managing director, Sergio Albarelli, who decided to leave in December (however the resignation became effective from the end of January) for personal reasons. The company will be led by a management team group of seven people.
“The intention – explains Azimut – is to distribute the powers of the managing director to a team of people, each with specific tasks aimed at supporting the growth and new projects of the Group”.
In any case, the company specifies that the new governance with the specific formal delegations will be approved by the new board, after the ok of the shareholders' meeting scheduled for April 24, 2019.
Not only that, Timone Fiduciaria, which holds over 24% of Azimut's capital, will present the lists for the appointment of the new board of directors and board of statutory auditors.
But who will they be? the seven who will ride Azimut?
- Paolo Martini, now at the head of Italian distribution, will also become world marketing manager.
- Andrea Aliberti, currently head of AZ Fund in Luxembourg, will cover the role of head of management Italy.
- Massimo Guiati, head of the Asia-Pacific area, will be responsible for world distribution, based in Hong Kong.
- Giorgio Medda, currently operating in Dubai and group manager for Turkey, the Middle East and North Africa, will take over the leadership of the global product companies and will relocate to Luxembourg.
- Claudio Basso, who leads the multi-manager team at AZ Fund, will become responsible for managing Luxembourg and Ireland.
- Alessandro Zambotti, head of the administration and finance area, is confirmed in this role with worldwide responsibility.
- Gabriele Blei, who today has the levers of foreign operations and business development, will be responsible for Azimut Mondo, with particular attention to external relations (including the financial community).
“Azimut's team of top managers has already proved its worth with the results produced in the first 3 months of 2019 – he comments Peter Giuliani, president of the Group -. Skills in investment management, marketing and commercial skills, also gained abroad, combined with rigorous attention to numbers and strategic vision make the team unique not only in Italy but also in Europe. The transformation that took place in recent years has made Azimut a company with approximately 30% of assets managed outside Italy and the new management team will be able to seize all growth opportunities. The reaction speed of our distribution system will decree the positioning of our Group at the top of the Italian or world rankings. Our ambitions, based on the skills present in Azimut and in companies very close to us, lead us to be optimistic about the possibility of positively surprising both our customers and our shareholders".
