International. Vertiv recently appointed Giordano Albertazzi as Chief Executive Officer and he was also appointed to the company's Board of Directors.
The company had announced its succession plan to make a generational change in the general direction from October 2022, at which time Albertazzi assumed the position of chief operating officer and began working closely with Rob Johnson, the then CEO who would delegate his position, to ensure a smooth transition.
In addition to his new role as CEO, Albertazzi will continue in his role as president, Americas region, until a successor is named for this task. In connection with the transition from the role of chief operating officer, which will also be left by Albertazzi to fully assume the role of director, operational oversight will be provided by the regional presidents.
Commenting on his appointment, Albertazzi said, "I am honored to take the helm of Vertiv as CEO. I look forward to collaborating with our leadership team and employees around the world to continue to increase the value we create for our customers, further strengthen our financial performance, and create long-term value for our shareholders. As I have shared with Vertiv employees, we will work to realize our full potential by focusing on a high-performance culture of collaboration and innovation, institutionalizing operational execution and excellence, and delivering profitable growth and increased cash flow."
Dave Cote, CEO of Vertiv, said Albertazzi was the right person for the position, because he has more than two decades of operational and business experience in the company, which highlights his track record of performance in Europe and the Americas.
"He was instrumental in driving significant operational and financial improvements while leading Vertiv in the EMEA region, and in the ever-changing Americas region. In addition, it understands how to create and maintain a high-performance culture. Giordano's operational experience and extensive knowledge of Vertiv's business and customers will be crucial to driving continuous performance improvement and addressing macroeconomic uncertainty."
In his new role, "Albertazzi aims to expand the continued focus on the customer, as it addresses the business and infrastructure needs of the data center, communications networks and industrial applications."
This significant appointment comes at a time when end markets are in high demand for Vertiv's data centers. Moreover, the company reported a new record in the order book at the end of the third quarter of 2022, when it reached the figure of $ 4700 million.