New CEO takes over as Prysmian sets up new organizational structure

Home Subsea New CEO takes control of as Prysmian establishes brand-new organizational structure

April 19, 2024, by

Zerina Maksumic

On April 18, 2024, after the investors’ conference, the Italian cabling giant Prysmian has actually verified its brand-new Chief Executive Officer (CEO) and General Manager to be Massimo Battaini.

Prysmian’s brand-new CEO and General Manager, Massimo Battaini. Source: Prysmian

According to the business, this marks the brand-new organizational setup which is targeted at supporting the group’s tactical strategy and worth production.

The brand-new company, as formerly revealed in December, includes 4 organization systems, consisting of transmission, power grid, electrification, and digital services, to adequately attend to market patterns worrying energy shift and digital change, while likewise helping with the group’s development goals, stated Prysmian.

In addition to the 4 organization systems, the group’s matrix structure consists of 9 geographical locations or areas. According to the Italian business, this setup intends to boost its capability to remain gotten in touch with regional markets and clients on a local and nationwide level, while likewise promoting more effective and reliable functional management.

“I am really happy and honoured of my visit as CEO and General Manager. Knowledgeable about the excellent duty they have actually delegated me with, I want to thank all the investors for their trust and assistance,” stated Massimo Battaini.

“I am particular that, thanks to the group of amazing supervisors who will deal with me, we will have the ability to support our aspirations and the obstacles we handle as market leaders. Our People’s proficiency and enthusiasm and our brand-new organisation will enable us to be progressively efficient on the marketplace and likewise to invite with interest Encore group.”

Prysmian just recently provided monetary outcomes for the year 2023stating it had a “exceptional efficiency” with “impressive” monetary outcomes. In March, when the monetary outcomes were exposed, Battiani was standing as a CEO-designate of the business.

Net revenue of the business increased 7.5% to EUR547 million, compared to EUR509 in 2022, and net revenue attributable to owners of the moms and dad business totaled up to EUR529 million, compared to EUR504 million in 2022.