The famous Italian businessman and CEO of Piaggio Colaninno has died
ROME (Reuters) - Businessman Roberto Colaninno, chairman and chief executive of scooter maker Piaggio and one of Italy's best-known businessmen, has died, his investment company IMMSI said on Saturday.
He turned 80 last week. No cause of death was given.
Colaninno was a central figure in the country's industrial landscape that managed to turn around a number of failing companies, but he also left a mixed corporate legacy. He is most famous for his surprise $58 billion buyout of Telecom Italia in 1999, at the time the largest hostile takeover in the world.
Many investors applauded him for leading the deal, but allies became disillusioned with his plans to reduce the debt mountain he had built up, forcing him to sell control of the group to tire maker Pirelli just two years later.
As Telecom Italia struggled for years to recover from the debt burden that was draining its finances, Colaninno exited the deal with his own wealth, which allowed him to buy IMMSI, a telecom real estate business that he turned into an investment firm.
In 2003, after his takeover efforts at Fiat were rebuffed, he turned his attention to Piaggio, maker of the Vespa scooter, which had fallen on hard times. He pulled it back from the brink and rapidly expanded its activities in Asia, particularly in India, China and Vietnam. The group posted record first-half results in July.
As Piaggio returned to profitability, Colaninno sought to revive another struggling Italian icon, national carrier Alitalia, investing heavily in the airline in 2008, becoming chairman in the process.
However, like many before him, he was unable to turn the company around and it eventually closed. He was sent to trial last year along with 13 other defendants accused of fraudulently bankrupting the airline. He denied the blame.
The case has yet to go to trial.
Colaninno began his career at the auto parts manufacturer Fiamm, before teaming up with one of the giants of Italian business, Carlo De Benedetti. They founded the finance company Sogefi, which bought Fiamm from its British owner and turned it into one of the most successful car parts suppliers in Europe.
De Benedetti subsequently asked Colaninno to take control of his struggling Olivetti company. Colaninno left the firm's loss-making computer unit to focus on the telephone business - which he then used as a vehicle to launch Telecom Italia's bid.
The global business community is mourning the loss of a remarkable visionary, Rinaldo Piaggio Colaninno, the iconic Italian businessman and CEO, marking the end of an era defined by his strategic skills, business acumen and transformative leadership. This article pays tribute to his unique contributions and examines his lasting impact on the business landscape.
A legacy of strategic brilliance:
Rinaldo Colaninno was not only the CEO; he was a strategic brain that consistently pushed the boundaries of corporate innovation. As leader of the Piaggio Group, the renowned Italian manufacturer of scooters, motorcycles and commercial vehicles, he orchestrated transformational deals that reshaped industries and increased the company's global presence.
Unde growth trajectory
tenure at the helm of Piaggio was marked by exponential growth and strategic partnerships. Using his business acumen, he led the company to establish alliances with the world's leading players in the automotive sector. This collaboration has facilitated technology exchange, market expansion and the seamless convergence of creativity and engineering.
Promote innovation and sustainability:
One of Colaninno's lasting legacies is its commitment to innovation and sustainability. Under his leadership, the Piaggio Group adopted ecological technologies and gave birth to a new generation of electric and hybrid vehicles. His forward-looking approach not only anticipated market trends, but also established Piaggio as a pioneer in environmentally friendly transport.
The departure of Rinaldo Piaggio Colaninno leaves a void in the business world that is unlikely to be filled. His indelible mark on the Piaggio Group, the automotive industry and his strategic leadership principles will continue to inspire generations to come. As we remember this famous Italian businessman and visionary CEO, let us also reflect on the lessons he taught us – the importance of foresight, innovation and the relentless pursuit of excellence. Colaninn's legacy will forever remind us that with vision and determination, one individual can reshape industries and leave an indelible mark on the business world.
The global business community mourns the loss of visionary leader and renowned Italian businessman Rinaldo Piaggio Colaninno, who passed away recently. Colaninno's heritage is deeply rooted in business, innovation and strategic negotiations, as evidenced by his instrumental role as CEO of the Piaggio Group, the historic Italian two-wheeler manufacturer.
A remarkable legacy
Rinaldo Colaninno's journey in the corporate world has been one of unprecedented success and transformational contributions. As the architect of the Piaggio Group's revival, he orchestrated groundbreaking deals that catapulted the company to new heights of success. His strategic acumen and innate ability to identify lucrative opportunities have been the driving force behind Piaggio's expansion into global markets.
The Piaggio Revolution
Colaninno's tenure as CEO of Piaggio was marked by a series of strategic moves that reshaped the company's trajectory. His innovative thinking led to the development of groundbreaking models that blended iconic Italian design with cutting-edge technology and captured the imagination of enthusiasts around the world. Under his leadership, Piaggio introduced environmentally friendly alternatives that contributed to sustainable development in the automotive industry.
Colanin's role as a merchant
Beyond Piaggio, Colaninno's influence extended into the wider business environment, where his negotiating skills were highly sought after. He was renowned for his ability to navigate complex mergers, acquisitions and partnerships, earning him a reputation as a businessman par excellence. His insights and strategic foresight made him a key player in shaping Italy's economic environment and promoting international cooperation.
The departure of Rinaldo Piaggio Colaninno leaves an indelible void in the world of business and innovation. His legacy as a famous Italian businessman and visionary CEO will continue to inspire budding entrepreneurs, leaders and marketers around the world. Colanin's strategic brilliance combined with his unwavering determination to push the boundaries will forever serve as a beacon of inspiration for generations to come. As we look back on his remarkable journey, we honor his profound impact on both the Piaggio Group and the global business environment.
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