CEVA Logistics chose its new helm in the broken Boot
Gianclaudio Neri appointed Managing Director of Italy cluster, succeeding Christophe Poitrineau, to recover from the disappointing financial results of 2018
CEVA Logistics has appointed Gianclaudio Neri as Managing Director of its Italy cluster; he will be based in Milan reporting directly to CEO, Xavier Urbain, thus succeeding Christophe Poitrineau who is leaving the Swiss-Dutch group to pursue other career opportunities.
“Gianclaudio brings a wealth of knowledge and experience of driving businesses forward to his new position. Our team there will be able to call on his turnaround skills as they progress the company in Italy to the next step of its development” commented Urbain.
Neri brings over 30 years' experience in senior roles across businesses in Italy to his new role with a particular emphasis on turning around and developing companies. He has successfully put 2i Rete Gas, the leading gas retailer in Italy, back on track, he has driven Intermarine back to profitability and has also led Piaggio to significantly improve returns which allowed it to IPO in 2006.
CEVA reported a loss at the end of the nine months to September 2018 amounted to 198 million USD, a significant increase compared to the 124 million USD at the end of 2017, attributing a part of it to Italy, where the logistics business for third parties had a negative impact of 26 million USD in the third quarter of the year and a total of 42 million USD in the first nine months of 2018.
To justify this bad financial performance, the company generically calls into question two contracts and the failure of a workers' cooperative that would have involved higher costs for tens of millions USD. "A plan has been prepared and is currently being applied to sort this problem" explained CEVA Logistics in its quarterly report.