Bonaldo Gregori is the new Italian helm at Pillarstone
He replaces John Davison who leaves the turnaround fund launched with KRR Capital after three years
Pillarstone, the European platform set up to finance and provide operational expertise to ailing shipping companies, announced John Davison will quit as chief executive officer.
The skilled manager will be replaced by Gaudenzio Bonaldo Gregori, managing Pillarstone Italy, and Dan Haxby, heading Pillarstone in London and Greece.
Both professionals were already joining Pillarstone’s leadership team, while John Davison will still be a board member of the companies encompassed in Pillarstone’s portfolio, where he is currently committed to ensure smooth continuity to 2019.
John Davison and KKR Credit co-fouded Pillarstone in 2015 to provide financial solutions for Banks aimed at maximizing non-performing loans (in shipping and real estate markets) through innovative partnerships.
Their strategy saw Pillarstone partnering major Italian and Greek banks; in four years the platform turned into a consolidated pan-European organization, appreciated by the market and by wealthy stakeholders.
Pillarstone controls over 2.2 billion Euro loans in ten companies and successfully recovered various assets on behalf of partnering banks and other stakeholders.
John Davison commented “It’s been an honour to found Pillarstone with KKR Credit and the team we created. I’m deeply proud for the work we developed in the past four years and the results we achieved.
I confide Pillarstone will continue growing granting long-term funds and operational expertise to foster ailing companies”.