(Alliance News) - Tomaso Tommasi di Vignano will not run again for the presidency of Hera Spa, considering his term of office after more than 20 years at the company to be over, as disclosed by the manager himself, who will leave the utility next April 27.

"I am proud to have contributed to the history of the Hera group, said Tommasi di Vignano, and, together with a high-level management team, to have combined corporate growth and sustainable development in a unique formula on the national scene. We have created an innovative model that is ahead of its time, with the aim of creating increasing value for our stakeholders and making the territories in which we operate increasingly competitive."

"I therefore wish Cristian Fabbri the best of luck in view of the next important position he will hold after the assembly on April 27. This is a recognition for the great work that, since 2006, he has been doing within the Hera group and I am sure that he will continue to contribute to the development of the company and will also know how to turn future challenges into opportunities."

Tomaso Tommasi di Vignano has been chairman of the group since November 2002 and, in June 2003, managed its listing on the stock exchange.

"His guidance has been fundamental in making concrete the far-sighted vision of the founding public shareholders of the Hera group, and he has contributed, with his know-how and undisputed managerial skills, to accompanying the company along a path of development and success that has made it among the most important multi-utilities on the national scene, with a consolidated leadership position in the sectors it presides over. A path of uninterrupted growth crowned in 2019 by entry in the FTSE Mib, among the 40 largest stocks in Piazza Affari, and, from 2020, in the prestigious international Dow Jones Sustainability Index," the company said.

"Committed for more than 20 years to creating value for all stakeholders, thanks in part to solid governance, the company has confirmed itself over time as a reference for the territories it serves and a systemic operator that can be relied on. As evidence of its steady growth, it is enough to recall that, since 2002, the group's workforce has more than doubled, from 4,200 to more than 9,300 employees, as have the citizens served, from 2 million to more than 4.2 million, while EBITDA has increased sixfold, from EUR192 million to nearly EUR1.3 billion. In 20 years the significant investments made, for a total of about EUR8 billion, and the more than 50 mergers and acquisitions concluded have enabled the achievement of important synergies and determined the expansion of the company's perimeter, growing economic effects on the territories served and the creation of value for all stakeholders, starting with employees, customers, suppliers, as well as for shareholders to whom dividends of more than EUR2 billion have been distributed over time."

"To Tomaso Tommasi di Vignano goes our deep gratitude said the public shareholders' union committee for having accepted since 2002 to lead the company, develop it and consolidate it to make it a multi-utility among the most important on the national scene, while maintaining strong territorial roots of the group. As evidenced by the relevant and significant results achieved in these 20 years, having placed our trust in him for such a long time was the right choice."

"We consider particularly important for our territories the value generated by the company in terms of investment, innovation, employment, entrepreneurial and cultural development. Combining corporate growth and sustainable development, creating more and more value to be shared with stakeholders and helping to improve the quality of life in the territories where the group operates, is the winning model realized by Tommasi that we will continue to follow over time."

With reference to the shareholders' meeting next April 27, the union committee has nominated Cristian Fabbri, Hera's current Central Market Director and CEO of subsidiary Hera Comm, for the role of executive chairman, thus enhancing the internal growth of a level manager in the company since 2006. For the roles of chief executive officer and vice chairman of Hera, the names of Orazio Iacono and Gabriele Giacobazzi, who already hold these roles in the multi-utility, have been indicated.

Hera's stock closed Thursday up 0.9 percent at EUR2.48 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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