Natuzzi CEO leaving
Chairman likely to take back reins
By Furniture Today Staff -- Furniture Today, July 23, 2007
Santeramo In Colle, Italy — Ernesto Greco, who joined the Natuzzi Group a year ago, said he plans to resign as CEO of the major upholstery manufacturer at the end of September "for personal and professional reasons."
Pasquale Natuzzi, currently chairman, is expected to assume CEO duties when the company's board meets in September.
Greco was chief financial officer for Italian jewelry and accessories maker Bulgari when he was picked for the Natuzzi CEO position in June 2006 after a year-long search. He succeeded Pasquale Natuzzi, who said the move would give him more time to focus on product development and innovation, as well as brand strategy and brand communications.
"I resigned the position of CEO for personal and professional reasons," Greco said in a news release. "I am firmly convinced that Natuzzi is a great company with a high potential, and I am thankful for the confirmed trust since I have been requested to remain on the board."
Pasquale Natuzzi said that although Greco will resign as an officer, he will remain a board member.
"I am sorry for Ernesto's decision, a very responsible professional, with proven ability and experience, who, notwithstanding his short stay in the group, started new projects that will surely bring good results," said Natuzzi. "At the same time I am pleased he will continue to give his valuable contribution to the group as a member of the board. I wish Ernesto a career full of satisfactions and new accomplishments."
