Stevanato Group Appoints Riccardo Butta as President, Americas

Rhea-AI Summary

Stevanato Group has appointed Riccardo Butta as President of the Americas, reinforcing its commitment to growth in the region. Butta brings over 30 years of management experience, including 20 years at Flex Ltd., where he oversaw the global commercial operations of Flex Health Solutions. This strategic move aims to enhance market penetration and customer proximity amid growing regional demand. CEO Franco Moro expressed confidence in Butta's capabilities to advance the company’s strategic priorities in this critical area.

Positive

• Appointment of Riccardo Butta as President is expected to strengthen leadership.
• Butta's extensive experience in healthcare and manufacturing could enhance market share.
• Focus on expanding presence in the Americas aligns with regional growth opportunities.

Negative

• Transition in leadership could bring initial instability as Butta acclimates to the role.

The appointment bolsters company’s commitment to growth in the region

PIOMBINO DESE, Italy--(BUSINESS WIRE)-- Stevanato Group, a global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, today announced the appointment of Riccardo Butta to the role of President, Americas.

Riccardo Butta (Photo: Business Wire)

The appointment of a dedicated executive to lead the Company’s long-term strategy in the Americas is indicative of the growing regional demand trends and the Company’s commitment to broaden its footprint, accelerate its market penetration and improve proximity to its customers in this important region.

“We are excited to welcome Riccardo Butta to Stevanato Group,” said Franco Moro, CEO of Stevanato Group. “We believe the Americas represent a significant growth opportunity for our company, and we are confident that Riccardo’s deep commercial, operational and management expertise will help us strengthen our presence and advance our strategic priorities in this important region.”

Riccardo Butta, President, Americas, commented: “I look forward to working with this talented leadership team to expand our presence and market share in the Americas, while continuing Stevanato Group’s mission to serve its customers through an integrated approach, from design and development through to commercialization.”

Riccardo Butta joins the Group with more than 30 years of management experience, including 20 years with Flex Ltd., an industry-leading contract development and manufacturing organization with operations spanning 30 countries, including a large presence in the U.S. and Mexico. In his most recent role as Senior Vice President, Riccardo was responsible for the global commercial organization of Flex Health Solutions, a business unit of Flex providing contract design, manufacturing, and logistics services to the healthcare industry with a focus on medical devices, drug delivery solutions, and medical/life sciences equipment. During his tenure at Flex, Riccardo was also responsible for the European organization of Flex Health Solutions, for the global engineering organization focused on medical device development, and for scaling up the Milan medical design center.

About Stevanato Group

Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group’s core capabilities in scientific research and development, its commitment to technical innovation and its engineering excellence are central to its ability to offer value added solutions to clients. To learn more, visit www.stevanatogroup.com.

Forward-Looking Statements

This press release may include forward-looking statements. The words "believe”, “will", "are confident", "opportunity" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs, or current expectations concerning, among other things, the Company's commitments and goals, growth opportunities, market position and penetration, and the expansion of the Company's global presence and integrated capabilities. The forward-looking statements in this press release are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators, and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005514/en/

Media

Stevanato Group

media@stevanatogroup.com

Investor Relations

Lisa Miles

lisa.miles@stevanatogroup.com

Source: Stevanato Group

FAQ

What is the significance of Riccardo Butta's appointment at Stevanato Group?

Riccardo Butta's appointment signifies Stevanato Group's commitment to expanding its operations in the Americas, aiming for increased market penetration and customer engagement.

How does Riccardo Butta's experience benefit Stevanato Group?

Butta's extensive background in management, particularly his 20 years with Flex Ltd., provides valuable insights and expertise that can help Stevanato strengthen its position in the region.

What are Stevanato Group's goals following the leadership change?

Following the leadership change, Stevanato Group aims to broaden its footprint and accelerate market penetration in the Americas, leveraging Butta's experience.

When did Riccardo Butta join Stevanato Group?

Riccardo Butta was appointed as President of the Americas in the recent press release dated February 2, 2022.