Wednesday, December 20, 2017
Andrea Formica was appointed as the new CEO of Cefla by the Board of Directors following an extensive evaluation and search for a leader with an international background. He will take office as of January 2018.
Born in Venice in 1961, Andrea Formica holds a degree in Economics at Siena University and an MBA at the Bocconi School of Management. He comes from a strong experience in the automotive sector, where he held several international positions. In 1999, at the young age of 38, led him to become Chairman and MD of Ford Italy. Later on he acted as Senior Vice President at Toyota Motor Europe in Brussels, and following that, he was appointed as CEO at Fiat Automobiles, with responsibility for the group’s sales as well as the full product portfolio. Andrea Formica is currently a Board Member of Piaggio & C.
Cefla is a multi-business Italian group founded in 1932 in Imola (Bologna) by nine shareholders, today employing around 2000 people with a global footprint (26 offices) and a turnover of 500 million euro.
On December 18th 2017 Andrea Formica was introduced to the Management and Shareholders and he will take office as CEO of CEFLA starting January 2018.
Gianmaria Balducci, President of the Board of Directors, says, “The new CEO of Cefla was appointed following an extensive evaluation and search for a leader with an international background and high profile experience, familiar with complex industrial environments and able to bring a strategic approach to our business. It is very important that the vision of the new CEO fits in with Cefla’s: creating value over time, focusing on strategies sustainable in the mid-to-long term instead of short term results. Today we can rely on an extremely competent management team that we believe can help us do better with the support of a greatly experienced leader.”
Andrea Formica shares, “I am strongly motivated by this new challenge which will allow me to share my experience of multinational business environments such as Ford and Toyota and can help serve a successful Italian company like Cefla, in addition to understanding new growing businesses at the forefront of technological evolution.”
Tags: Andrea Formica, board of directors, Cefla, CEO
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