MILAN (Reuters) -Italian digital services provider Engineering has appointed the former head of Vodafone’s operations in the country, Aldo Bisio, as chief executive after Maximo Ibarra stepped down following four years at the helm, it said on Monday.
Engineering said Ibarra’s decision to leave the tech company, which bankers have indicated is a potential listing candidate, was linked to personal reasons and came after results “that confirmed a very positive growth path”.
Bisio, 64, takes up his new role on Monday. He left Vodafone Italy last year after the business was sold to rival Swisscom.
Engineering, jointly controlled by private equity firms Bain Capital and NB Renaissance, reported a 2024 adjusted core profit of 276 million euros, up 7.4% from the year before. Revenue rose by 2.5% to 1.76 billion euros.
Bain Capital bought its stake in Engineering in 2020 from Apax Partners, in a deal valuing the company 1.6 billion euros, a source said at the time.
(Reporting by Elvira Pollina; Editing by Kirsten Donovan)
