Vertiv Completes CEO Succession
January 03 2023 - 6:00AM
Business Wire
Giordano Albertazzi assumed role as CEO on
January 1, 2023
Albertazzi confirms focus on operational
excellence, profitable growth, high-performance culture, and
innovation
Vertiv (NYSE: VRT), a global provider of critical digital
infrastructure and continuity solutions, today announced that on
January 1, 2023, Giordano Albertazzi assumed the role of CEO, and
was appointed to the Board of Directors.
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the full release here:
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Vertiv CEO Giordano Albertazzi (Photo:
Business Wire)
“I’m honored to take the helm of Vertiv as CEO. I’m looking
forward to working closely 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,” said Albertazzi. “As
I’ve shared with Vertiv employees, we will work to achieve our full
potential by focusing on building a high-performance culture of
collaboration and innovation; institutionalizing operational
excellence and execution; and ultimately delivering profitable
growth and improved cash flow.”
Dave Cote, Executive Chairman at Vertiv stated: “With more than
two decades of operational and business experience at Vertiv and a
track record of performance in both Europe and the Americas,
Giordano is the right person to drive Vertiv forward. He was
instrumental in driving significant operational and financial
improvements while leading EMEA, and in the ongoing turnaround of
the Americas. He understands how to build and maintain a
high-performing culture. Giordano’s operational expertise and deep
understanding of Vertiv’s business and customers will be pivotal in
driving continued performance improvement while navigating
macroeconomic uncertainty.”
As CEO, Albertazzi will aim to increase Vertiv’s relentless
customer focus as it addresses the infrastructure and business
needs of the data center, communication networks and industrial
applications.
Albertazzi assumes the CEO role at a time of continued strong
demand across Vertiv’s data center end markets. The company
reported a record order backlog of $4.7 billion as of the end of
the third quarter of 2022. Vertiv is a leader in providing thermal,
power, IT management, and integrated solutions for global data
center operators to meet ongoing consumer demand.
Vertiv announced its CEO succession plan in October 2022 and
since then Albertazzi assumed the role of Chief Operating Officer,
working closely with former CEO Rob Johnson, ensuring a seamless
transition.
In addition to becoming CEO, Albertazzi will also continue in
his position as President, Americas, until a successor is named. In
connection with Albertazzi transitioning out of the COO role,
operational oversight will reside with regional Presidents to
further focus on regional performance.
About Vertiv
Vertiv (NYSE: VRT) brings together hardware, software, analytics
and ongoing services to enable its customers’ vital applications to
run continuously, perform optimally and grow with their business
needs. Vertiv solves the most important challenges facing today’s
data centers, communication networks and commercial and industrial
facilities with a portfolio of power, cooling and IT infrastructure
solutions and services that extends from the cloud to the edge of
the network. Headquartered in Columbus, Ohio, USA, Vertiv employs
approximately 24,000 people and does business in more than 130
countries. For more information, and for the latest news and
content from Vertiv, visit Vertiv.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27 of the Securities Act, and Section 21E of the Securities
Exchange Act. These statements are only a prediction. Actual events
or results may differ materially from those in the forward-looking
statements set forth herein. Readers are referred to Vertiv’s
filings with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and any subsequent Quarterly
Reports on Form 10-Q for a discussion of these and other important
risk factors concerning Vertiv and its operations. Vertiv is under
no obligation to, and expressly disclaims any obligation to, update
or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230102005043/en/
Sara Steindorf E Sara.steindorf@fleishman.com
Vertiv (NYSE:VRT)
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