Ducati CEO Di Biagio Steps Down
Chairman Federico Minoli to Assume Chief Executive Responsibilities
BOLOGNA, Italy, March 5 -- Ducati Motor Holding S.p.A. , a leading manufacturer of high performance motorcycles, announced that Carlo Di Biagio, Chief Executive Officer, has resigned from the company for personal reasons. Federico Minoli, Chairman of the Board, will assume chief executive responsibilities.
"We are very grateful to Carlo for his important contributions to Ducati since the early days of the turnaround, and in particular during the busy period of the IPO in 1999," said Minoli. "We have asked him -- and he has agreed -- to continue to support the company in a consultancy role which will allow us to benefit further from his deep knowledge of the company."
"It has been incredibly exciting to lead Ducati through this dynamic period of product innovation," said Di Biagio. "I am now looking forward to concentrating on other professional and personal opportunities."
Di Biagio was appointed CEO of Ducati in July 2000. Previously, as of May 1997, he was CFO at the Company. As CEO, Di Biagio invested heavily in new product, including the new 999 Superbike and Multistrada, and led the Company's eagerly awaited entry into the Moto GP championship in 2003.
Federico Minoli was Chairman and CEO of Ducati from September 1996 until July 2000, and subsequently remained Chairman of the Board.
Founded in 1926, Ducati builds racing-inspired motorcycles characterized by unique engine features, innovative design, advanced engineering and overall technical excellence. Ducati has won eleven of the last thirteen World Superbike Championship titles and more individual victories than the competition put together. The Company produces motorcycles in four market segments which vary in their technical and design features and intended customers: Superbike, Supersport; Monster and Sport Touring. The Company's motorcycles are sold in more than 40 countries worldwide, with a primary focus in the Western European and North American markets. For more information about the Company, please visit our web site at http://www.ducati.com/.
This press release contains statements that are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, as described in documents previously filed by the Company with CONSOB and with the U.S. Securities and Exchange Commission.