A strong man for IEG: to new managing director Ugo Ravanelli the operating powers ♦ ︎
VicenzaOro or, better, Italian Exhibition Group, a company that also organizes the jewelery fair in the Venetian city and OroArezzo, has a new operational manager. To the historic president Lorenzo Cagnoni (79 years) and to the executive vice president Matteo Marzotto (51 years) joins Ugo Ravanelli, 64, until now independent board director and chairman of the Control and Risk Committee of Marr, distribution and food company listed on the Star Segment of Borsa Italiana (in the past he was also managing director and chairman).
Exchange of proxies
The note published by the company describes the novelty at the top with the decisions taken by the new board of directors “having as a reference the indications on the governance structure that emerged from the Shareholders’ Meeting. These include the recommendation, also indicated by the Committee for Corporate Governance and deriving from international best practice, to avoid the concentration of offices in one single person and in particular to provide for the separation of the roles of chairman and CEO. Consequently, the board assigned the delegations and appointed Lorenzo Cagnoni as chairman of the company and Matteo Marzotto as vice chairman; he also assigned the powers for the ordinary and extraordinary management of IEG to Ugo Ravanelli, appointing him as CEO”. Ravanelli, then, will be the strong man of IEG (“ordinary and extraordinary management”), a company engaged in a march towards the stock exchange, where it counts to be listed in 2019. A path that Ravanelli knows, given that he has already led to the listing Marr.
The new summit
The assembly of the fair group has also partially renewed the board of directors, which is now composed by Barbara Bonfiglioli (confirmed), Lorenzo Cagnoni (confirmed), Michela Cavalieri (new entry, 51 years, councilor for Economic Resources of the Municipality of Vicenza) , Daniela Della Rosa (confirmed), Maurizio Renzo Ermeti (confirmed), Lucio Gobbi (confirmed), Catia Guerrini (confirmed), Matteo Marzotto (confirmed), Ugo Ravanelli (new entry, new ad), Simona Sandrini (confirmed).
Lastly, the shareholders’ meeting approved IEG 2015 white paper: consolidated turnover of € 130.7 million (€ 124.8 million in 2016), Ebitda of € 23.2 million, consolidated net profit of € 9.1 million (6 , 6 million last year).
