Andrea Pininfarina, 51, Pininfarina's CEO died 2 hours ago following an accident involving the Vespa where he's riding to work collided with a car.
Pininfarina, the prestigious Italian family owned automotive design firm which had a long standing relationship with Ferrari has had countless timeless creations throughout decades, had recently gone under financial burden as it's trying to restructure itself following a 114.9 million Euro loss last year.
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Andrea Pininfarina has been Pininfarina's CEO since June 2001. He was also appointed chairman in May 2006. His father Sergio is the company's honorary chairman. His younger brother Paolo is Pininfarina's vice chairman and his elder sister Lorenza is a member of company's board.
Andrea Pininfarina is the grandson of Pininfarina founder Battista "Pinin" Pininfarina. He is survived by his wife Cristiana, and two sons and a daughter.
The company said it will issue a statement later today.
On March 10, Pininfarina asked its shareholders for a 100-million-euro capital increase to cover of its losses.
The move means that the Pininfarina family will lose its majority in the company.
The family currently controls 55 percent of Pininfarina's voting shares.
The Pininfarina family will underwrite part of the capital increase and will rely on the support of new investors, such as Ferrari vice chairman Piero Ferrari, Tata Group chairman Ratan Tata and French industrialist Vincent Bollore.
After the capital increase, the Pininfarina family will remain the main shareholder of the company with about 30 percent of the shares.
1 comment:
my condolences
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