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De’Longhi CEO resigns

De’Longhi

The Board of Directors of De’Longhi S.p.A have announced the resignation of Dr. Massimo Garavaglia from his position as Chief Executive Officer. This includes other board offices received within the company, and as General Manager of De’Longhi.

The effective date of Garavaglia’s resignation will be 31 August 2022.

“It is with great regret that I leave, in spite of myself for personal reasons, this extraordinary Group which I have had the privilege of leading in the last two years. I sincerely thank the De’Longhi family and the Board of Directors for the support and unconditional trust shown in me right from the beginning,” says Garavaglia.

“I also wanted to take this opportunity to thank all managers and employees of the Group who have always shown great professionalism and dedication in a period of unprecedented changes and complexities.”

The Board of Directors has initiated the succession process established by the ‘Succession plan policy’ adopted by the company in compliance with the recommendations of the Corporate Governance Code.

Pending the identification of Garavaglia’s successor, the President Giuseppe De’Longhi and Vice President Dr. Fabio De’Longhi will continue to rely on the contribution of the current top-level management, to give continuity to the implementation of De’Longhi’s strategic plan.

The President Giuseppe De’Longhi, on behalf of the Board of Directors and the company, thanks Garavaglia for the conduct and professionalism shown in his role as CEO and General Manager of De’Longhi, and for the important job carried out, which contributed to the achievement of excellent results for the company.

For more information, visit www.delonghi.com

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