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San Bonifacio, Verona, Italy. 25 October 2023

Ferroli Group announces the appointment of Antonio Recinella as its new Group CEO.

 

At the forefront of home and professional comfort

Antonio Recinella brings more than three decades of international management experience to the leading manufacturer of heating and air conditioning products.  Backed by majority shareholder Attestor, Ferroli is renowned for its innovative, technologically advanced, and energy-efficient products for the home and professional environments.

Through its Research & Development center opened in 2022, Ferroli will continue to focus on designing and commercializing efficient, increasingly digital and sustainable products, such as low environmental impact heat pumps with natural refrigerants and hydrogen heating systems.

This commitment is further evidenced by collaborations with leading technology companies Lenovo and Hevolus Innovation, which enable remote training and control of installed products by Ferroli’s distribution partners.

 

The profile of the new Group CEO

Recinella’s focus is to accelerate Ferroli’s path of growth and innovation.

Born in Livorno, Italy, Recinella has had a wide-ranging career across multiple geographies in Europe and Asia. These have been across varied sectors including automotive, home appliances and consumer luxury packaging.

Recinella began his career at Honeywell in customer service, ultimately running a US$250m profit and loss segment, before joining Magneti Marelli, where he held roles in Italy and China and rose to become CEO of the Aftermarket, Parts and Services business.

Following two decades at large scale corporations, Recinella went on to lead a successful turnaround of Elica, the leading producer of cooker hoods and aspirational hobs, and subsequently became CEO of Lumson, a producer of luxury cosmetics packaging solutions.

He has a degree in Economics & Business Science from Ancona's Università Politecnica delle Marche and an Executive MBA from IMD International in Lausanne.

 

Statements from the key people

David Alhadeff, Attestor Partner and Chairman of Ferroli, commented: "We are pleased to welcome Antonio Recinella as CEO of the Ferroli Group and have full confidence in his leadership to continue the company's path of growth, customer service and innovation. Antonio has the support and commitment of Attestor, as well as the excellent team at Ferroli. The drive toward technological innovation, the commitment to leadership in the energy transition, and the vigor of our commercial and marketing activities remains unchanged".

Antonio Recinella, new Group CEO of Ferroli, added: “It is an honour to lead a talented group of people, who make up the Ferroli Group. I take the reins of a company that is perfectly positioned to seize the business opportunities of the energy transition, thanks to a range of green products and the know-how built in advance of the evolution of the market”.

Recinella succeeds Riccardo Garrè, who recently left the Group to pursue a new professional opportunity. The Board of Directors thanks Garrè for his work over the years and wishes him the best in the continuation of his career.

 

Ferroli

The Ferroli Group is an international player in the heating and airconditioning market for home and professional comfort. With roots dating back to 1955, the Group has a wide portfolio of products and solutions distributed in 110 countries, all dedicated to customer excellence.

With research centers in Italy (for the European markets) and in China (serving the Asia-Pacific markets), Ferroli pursues constant innovation in its products and services, which today is crucial for competitiveness.

In a globalized market that is inspired by technological innovation and European-style regulation for environmental and energy efficiency, Ferroli is well positioned with gas, electric, green and smart appliances to benefit from Italian design and engineering know-how