Verona, Italy-based paper manufacturer Fedrigoni appointed Davide Bustreo as the new chief financial officer to further grow the business globally.
Bustreo joins the group with extensive experience in corporate finance for multinational companies, in Italy and other European countries, including Continental Foods and a private equity fund, CVC Capital Partners.
Previous CFO, Vittorio Sfligiotti will take on the role of the CFO of the Paper and Security Business Unit and will continue to work closely with Bustreo and Vicente Gerbasi, the CFO of the Pressure Sensitive Labels unit.
‘I am excited to welcome Davide in our team’, said Marco Nespolo, CEO of Fedrigoni Group. ’Davide will play a key role in helping to lead Fedrigoni’s efforts to grow its business. With the upcoming acquisition and integration of Ritrama, a very significant player in pressure sensitive labels, we are taking a new important step in our ambitious path to global expansion.’
Fedrigoni Group is one of the leading Italian companies in the production and sale of specialty papers and high value-added products for packaging, fine printing and self-adhesive labels. In October 2019, the group announced the acquisition of a fellow Italian self-adhesive products company Ritrama, in a deal, which according to Reuters, was worth between 250-300 million EUR (280-335 million USD).