(Alliance News) - Franchetti Spa announced Wednesday that it has appointed Gianluca Del Fabbro as its new general manager.

Fabbro will assume the position effective Sept. 18 and will report directly to president and CEO Paolo Franchetti.

"A management engineer and manager with twenty-five years of experience in multinational industrial realities, Gianluca Del Fabbro will be in charge of continuing and accelerating the process of continuous growth and managerialization of the group, both in the domestic and international markets," the company note reads.

Franchetti, is flat at EUR4.02 per share.

By Chiara Bruschi, Alliance News reporter

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