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Natuzzi CFO Simonetti resigns

Former Panasonic Italia exec to replace him

By Furniture Today Staff -- Furniture Today, March 10, 2008

SANTERAMO IN COLLE, Italy — Upholstered furniture major Natuzzi said that Filippo Simonetti has resigned as chief financial officer and will be replaced by Salvatore Gaipa, former CFO of Panasonic Italia.

The company said Simonetti’s resignation is effective March 22, but did not give a reason for his departure.

Gaipa, 55, was CFO of Panasonic Italia from 1988 to 2005 and has been an independent business consultant since leaving the company. Before joining Panasonic, he held a variety of accounting and finance posts at Snamprogetti ENI.

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