• Resignation for personal reasons of CEO Paolo Piccini
  • Luca Maria Tonelli appointed Senior Technical Advisor reporting directly to the CEO

The Board of Directors of algoWatt S.p.A., GreenTech Solutions Company listed on the Euronext Milan market of Borsa Italiana, met today under the chairmanship of Stefano Neri and announced that Paolo Piccini has resigned, for personal reasons and with immediate effect, from the role of CEO and member of the BoD. Commenting on Mr Piccini’s resignation, Chairman Stefano Neri said: “I would like to express our thanks to Paolo Piccini for his dedication in his role as CEO since 2021 and as an independent member of the BoD since 2018. We wish Mr Piccini the best of professional success in the continuation of his career”. The Board of Directors of algoWatt, taking note of this decision, resolved to entrust the Chairman, Stefano Neri, with the powers previously held by Eng. Piccini, appointing him as CEO. The new CEO will be assisted by Senior Technical Advisor Mr Luca Maria Tonelli, a long-standing expert in technological innovation and digital transformation, who will contribute to the further growth of the Company on the Italian and European markets, through the implementation of efficient processes and the search for development and exploitation opportunities in the areas of software development and application solutions for algoWatt’s target markets. Mr. Tonelli’s CV will be available on the algoWatt website in the Investor Relations / Corporate Documents section. The BoD of algoWatt also resolved to terminate the employment relationship with Mr. Idilio Ciuffarella, who will consequently no longer hold the position of General Manager and Manager with strategic responsibilities of algoWatt as of today. The Board of Directors also expressed its best wishes for his future professional commitments.