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Marcolin Assigns CEO Responsibilities to Current Vice Chairman Varvaro

October 17, 2011

LONGARONE, Italy—Marcolin S.p.A’s [MCL-IT] board has given Vito Varvaro, currently vice chairman, the same powers of attorney that had been previously assigned to Massimo Saracchi, the company’s outgoing CEO, who indicated he would not be continuing with the company a few weeks ago, as reported by Vision Monday.

Varvaro has been on the board since November 2007 and will take on the functions on an interim basis, effective Sept. 30. The company points out that neither Varvaro nor Saracchi holds any shares in Marcolin. Saracchi remains a non-executive director of Marcolin S.p.A. ■

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