STAGWELL (STGW) LAUNCHES IN ITALY WITH APPOINTMENT OF DIEGO RICCHIUTI AS LOCAL CEO
Rhea-AI Summary
Stagwell (NASDAQ: STGW) has announced the launch of Stagwell Italy and appointed Diego Ricchiuti as its inaugural CEO, effective immediately. Ricchiuti, who brings over 30 years of advertising industry experience and previously served as CEO of MullenLowe Italia, will report to James Townsend, CEO of Stagwell EMEA.
This expansion follows Stagwell's establishment of its European headquarters in London in April 2024 and three strategic European acquisitions in 2024: UNICEPTA in Germany, Sidekick in the UK, and WHAT'S NEXT PARTNERS in France. The move is part of Stagwell's broader European growth strategy, strengthening its presence in key markets and expanding its connected marketing solutions offerings.
Positive
- Strategic expansion into Italian market enhances European presence
- Three successful European acquisitions in 2024 demonstrate growth momentum
- Appointment of experienced CEO with 30+ years industry expertise
Negative
- None.
News Market Reaction – STGW
On the day this news was published, STGW gained 4.75%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Diego Ricchiuti will spearhead regional growth for the challenger network as it brings its connected solutions offerings to
Diego has 30+ years' experience in the advertising industry. Most recently, he served as CEO of MullenLowe Italia where he worked with many international clients of a high calibre. In his previous positions, he worked with brands such as Allianz, Edgewell Personal Care, McDonald's, Costa Crociere, Phoenix Pharma, Unilever, Lufthansa, ENI.
The opening of Stagwell Italy comes after an exciting year of expansion for Stagwell in
"Stagwell Italy allows us to bring our challenger mindset and unique capabilities to an important market. As we continue strategic European growth and remain an ideal size for clients, Diego and his network are vital to Stagwell's ambitions to expand seamlessly into
James Townsend, CEO of Stagwell EMEA, said, "As we continue to execute our global growth strategy, our EMEA region continues to develop rapidly and Diego Ricchiuti brings the strategic experience with enterprise brands we need for Stagwell Italy to have a fast start in a key market for us."
Diego Ricchiuti, recently appointed CEO of Stagwell Italy, added, "With over three decades of advertising experience, I think Stagwell's collective capabilities spanning consumer research, media, data, technology, creative, and digital transformation represents the most modern and innovative player in the industry and I am excited to be a part of this impressive network. I can't wait to help James and the team take Stagwell to the next level."
About Stagwell
Stagwell is the challenger holding company built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our specialists in 35+ countries are unified under a single purpose: to drive effectiveness and improve business results for our clients. Join us at www.stagwellglobal.com.
Contact:
Quinn Werner
Stagwell EMEA
PR@stagwellglobal.com
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SOURCE Stagwell Inc.
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