Italian appliance maker Merloni Elettrodomestici announced that it has named Marco Milani as its new CEO. The appointment will be effective as of July 27, following approval of the first half report and due conferment of powers. In the mean time, Mr. Milani has been co-opted to the Board of Directors on a motion by Chairman Vittorio Merloni.
Currently CEO of Merloni Elettrodomestici UK, Mr. Milani replaces Andrea Guerra, who was Merloni's top executive four 4 years and is leaving to become the CEO of eyewear firm Luxottica.
"This is an internal choice, one of continuity and favored by Andrea Guerra himself, who worked very well with Milani for the company's growth and development," Mr. Merloni said in a statement.
"Andrea Guerra's four years in office, from 2000 to date, have raised Merloni Elettrodomestici to the number three ranking in the European white goods industry," he continued. "I thank Andrea Guerra, on behalf of the shareholders, the board and the management, and wish him every good fortune in pursuing the brilliant career he started with us."
Mr. Milani joined Merloni in 1980 and has held increasingly important posts, both industrial and commercial, in Italy and abroad. In 1998, he was given control of the CIS/Eastern European market, based in Moscow, until the 2000 acquisition of Stinol, Russia's biggest refrigerator manufacturer.
Returning to Italy, he then took over as chief operating officer and in March 2002 was appointed CEO at Merloni Elettrodomestici UK, the company formed as a result of the GDA Hotpoint acquisition. In that role, Mr. Milani engineered the integration of what Merloni says is the most important acquisition it has ever made.
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