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Timoni Named President, CEO of Piaggio USA

August 9, 2005
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Paolo Timoni has been named president and CEO of Piaggio USA, Inc., a position which has him responsible for leading all U.S. brand operations, as well as developing North and South American expansion opportunities. He takes the place of former Piaggio USA President, Costantino Sambuy.
Timoni previously served as CEO of Piaggio USA and vice president of Global Sales and Marketing for Piaggio & Co. SpA. He jo ined the Piaggio group in May 2004, taking responsibility for the company’s two-wheel business activity worldwide.
Piaggio leadership says Timoni’s appointment represents the company’s focus on aligning senior leadership with strong growth opportunities around the globe. Piaggio returned to the U.S. market in 2001 with its Vespa and Piaggio brands. Last year’s acquisition of Aprilia and Moto Guzzi allowed the Italian manufacturer further opportunities in the well-established U.S. motorcycle market.
The Piaggio Group has more than 6,000 employees in 50 countries. It claims 40% market share in Europe and 48% in Italy. Owned brands include Piaggio, Vespa, Gilera, Derbi, Aprilia and Moto Guzzi. The Piaggio Group is controlled by Immsi S.p.A., an industrial and services holding listed on the Milan Stock Exchange, and is headed by Chairman Roberto Colaninno and Chief Executive Officer Rocco Sabelli.

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