(Alliance News) - Estrima Spa announced Monday that the board has appointed its chairman, Matteo Maestri, as the company's new CEO.

Maestri takes over from Ludovico Maggiore as of today and also recaptures the role of chief financial officer in place of the resigning Cristina Ceccato, assisted by Stefania Zuccato and Barbara De Paoli.

Maggiore remains on the board, taking on the role of investor relator and continuing the development of Birò's renting and sharing business areas. In addition, Maggiore will also continue to oversee together with the other two partner-directors - Matteo Maestri and Ermes Fornasier - the development strategy of the company and the group.

Matteo Maestri founded Estrima in 2008 as a spin-off of Brieda, owned by the Maestri family, which has been active for more than 50 years in the production of safety cabins for agricultural and industrial vehicles, leading it to its listing on the stock exchange in December 2021 on the Euronext Growth Milan market and to its international development, making Birò, the smallest four-wheeled electric vehicle, known throughout Europe.

Estrima's new CEO said, "My appointment is part of a natural path of growth for the company, at the strategic leadership of which there are three of us, myself, Ludovico Maggiore, whom I thank for his work so far as CEO, and Ermes Fornasier. I thank the board of directors for the trust placed in me, and I welcome the challenge with enthusiasm ready to continue on the path of Estrima's maturation."

"The road to success has been taken, and I am confident that, with the cooperation of all members of Management, the Board of Directors and our employees, we will succeed. I would like to express my professional thanks to Cristina Ceccato who is leaving the group where she held the position of CFO."

Estrima's stock is down 2.2 percent at EUR1.34 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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