Pioneer CEO Roger Yates steps down from leadership of the company of the Unicredit group and Sandro Pierri will take his place. This was stated by Unicredit number one, Federico Ghizzoni, during the conference call with financial analysts on the first quarter. “It's not a surprise – Ghizzoni said – she is leaving him for personal reasons. The successor will be Sandro Pierri who comes from Pioneer, a sign of continuity”.
The new CEO, added Ghizzoni, “can guarantee the implementation of the strategic plan and continuity for society”. The change at the top "is not a surprise and it is not a dramatic fact". [17:33:16] Carlo Musilli: The designation of Pierri as CEO of Pioneer Investments will be proposed by Unicredit to the board of directors of Pioneer global asset management at July. The appointment of the new CEO, who will report directly to Ghizzoni, will take effect from 24 July, "ensuring effective management during the transition phase". Yates will instead return to London, "for family reasons", but will maintain his commitment to Pioneer Investments as a non-executive director.
“Pioneer Investments – underlined Ghizzoni – represents an important asset for the group and I am sure that Pierri is the right person to ensure the continuity and implementation of the plan which has now entered its implementation phase. I am convinced that the plan, for which we confirm our full support, will help create value for the group and for its shareholders".
“Yates – added the number one in Piazza Cordusio – did an excellent job during the company's strategic review process and in designing its growth path for the coming years. My sincere thanks go to him for helping to make Pioneer an even stronger operator.” Pierri has been with Pioneer since 2003 and has held various positions in the company over the years. He is currently responsible for the Western Europe and International markets, which also include Asia and Latin America, and is also the managing director of Pioneer Investments Italia. He has over 20 years of experience in the asset management industry, "where he has also worked directly in portfolio management."
