Italian vehicle manufacturer Piaggio, listed on Euronext Milan, has recently seen major changes within its Board of Directors. In a move that marks a new era for the company, Matteo Colaninno has been appointed Chairman of the Board of Directors, while Michele Colaninno has been designated as Chief Executive Officer. These appointments represent a significant renewal of the company’s top management and reflect the importance of family continuity in the management of the company.
The Board introduced Alessandro Lai in the role of Lead Independent Director, further strengthening the company’s governance structure with a particular focus on independence and transparency. In parallel with these changes in leadership, the Board of Directors has also initiated an ambitious share buyback program.
This program involves the purchase of a maximum of 14,354,000 Piaggio ordinary shares, without an expressed par value, for a maximum value of 41,500,000 euros. At the time of the announcement, the Company already had 426,161 treasury shares in its portfolio, corresponding to 0.12% of the share capital.