Giordano Albertazzi assumed the role of CEO from 1 January 2023.
Albertazzi's priorities remain operational excellence, profitable growth, leveraging a high-performance culture and continuous innovation
Vertiv, (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, announced that Giordano Albertazzi will assume the role of CEO and be designated a member of the Board of Directors effective January 1, 2023.
"I am proud to take over the leadership of Vertiv as CEO. I intend to work closely with our leadership team and associates around the world to help increase our services to our customers, further strengthen our financial profitability and generate long-term value for shareholders," said Albertazzi. “As already shared with Vertiv employees, we will work to realize our full potential by focusing on fostering a high-performance culture of collaboration and innovation, institutionalizing operational excellence and execution, and ultimately realizing profitable growth and improved financial performance.”
Dave Cote, Executive Chairman of Vertiv, said: "With more than two decades of management and commercial experience at Vertiv and a track record of success in both Europe and the Americas, Giordano is the right person to lead Vertiv. He was instrumental in achieving significant management and financial improvements while leading the EMEA region and subsequently the Americas. He is an expert in how to develop and consolidate a high-performance culture. Giordano's management experience and his deep expertise of Vertiv's business and customers will be key to driving continued performance improvement as we navigate macroeconomic uncertainty."
As CEO, Albertazzi will further increase Vertiv's customer centricity to address the infrastructure and business needs of data centers, communications networks and industrial applications.
Albertazzi assumes the role of CEO in a context of constant growth in demand in Vertiv's reference data center market. As of the close of the third quarter of 2022, the company reported historic order volume of $4.7 billion. Vertiv is a leading provider of thermal management, power management, IT management and integrated systems solutions to data center operators worldwide to meet ongoing customer demand.
Vertiv has announced the program CEO succession in October 2022 and since then Albertazzi has assumed the role of Chief Operating Officer (COO), working closely with previous CEO Rob Johnson, ensuring a seamless transition.
In addition to serving as CEO, Albertazzi will also continue to serve as President of the Americas until a successor is appointed. In conjunction with Albertazzi's transition from the role of COO, operational supervision will be entrusted to the regional Presidents to encourage greater concentration on territorial performance.
