The Board of Directors of Piaggio Aerospace announces in a note that Carlo Logli, CEO since May 2014, has decided – in mutual agreement with the shareholder – to relinquish the powers with immediate effect. The position will be held on an interim basis by the company's current Chief Operating Officer, Renato Vaghi, until the transition process is completed with the appointment of a new Chief Executive Officer. Carlo Logli will continue to collaborate with the Group in the role of senior advisor to the Chairman of Piaggio Aerospace, Ali Al Yafei, and to the Company's Board of Directors.
"On behalf of the Board of Directors and all the company's employees, I would like to convey my heartfelt thanks to Carlo Logli for the service rendered at Piaggio Aerospace - commented the chairman Al Yafei - Carlo has shown that he possesses great leadership skills, leading the company in a period that saw the creation of a cutting-edge production site in Villanova d'Albenga, despite the difficult conditions of the economic context. The time has now come for a new Chief Executive Officer to complete the recently announced industrial plan, with the aim of guaranteeing a sustainable future for Piaggio Aerospace”.
Carlo Logli joined the Group in 2013 in the role of Chief Restructuring Officer, with the aim of managing the relaunch plan necessary to deal with the difficulties affecting the business aviation sector. Logli was then named CEO in May 2014.
Renato Vaghi, who assumes the role of interim CEO, has been with Piaggio Aerospace since June 2014 and has extensive operational expertise in aerospace manufacturing and program management. Vaghi was appointed Chief Operating Officer of Piaggio Aerospace in January 2016.
Piaggio Aerospace's shareholder is Mubadala Development Company of Abu Dhabi, which holds 100% of the share capital.
