Canados announces new CEO

Canados, the Italian luxury motor yacht manufacturer and shipyard based in Ostia (Rome), is pleased to announce the appointment of Daniel Pagnoni as the new Chief Executive Officer of the company. He will be responsible for continuing the strategy of growing the company and the brand, both domestically and internationally.

Daniel Pagnoni, 46 and an Italian national with a cosmopolitan background, was most recently Senior Vice President and Global Category Officer, in Reckitt Benckiser, with operations in over 60 countries and market capitalisation of approx. US $ 40 billion. He previously worked for Procter & Gamble and has a Master’s Degree in Industrial Engineering from Louisiana State University, USA.

“Daniel is an outstanding manager, with unparalleled experience in industrial, commercial and distribution activities.” says Agostino Ascani, Chairman of the Board. “The Canados board is highly confident of Daniel’s ability to capitalise on the excellent financial and human resources of the company to achieve the company’s ambitious strategic objectives of further growth and internationalisation”.

‘‘Canados is a strong brand with significant opportunities for growth in an expanding market’’ says Daniel Pagnoni, the new CEO. ‘‘Furthermore, the Company’s technical expertise and excellent workforce, combined with the impressive production facilities are great assets to leverage to ensure growth in existing and target markets.’’ Daniel adds in the same statement. ‘‘The financial backing of Balmoral Capital will allow the company to make the investments needed to upgrade the yard, internationalise the business and introduce new models, all key components for success.’’

Canados was originally established in Ostia (Rome) in the 1940’s, as a leader in the design, manufacture and sale of motor yachts between 21 and 36 metres. Since its establishment the company has launched over 600 motor yachts and, in the past, over 100 sail boats. Core markets are Italy, Greece and France, and the brand is attracting growing interest form buyers in other areas such as Eastern Europe, the Mediterranean, emerging markets and the Middle East. Canados is fully owned by the UK / European private equity fund Balmoral Capital, which acquired the company in 2007.



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