Veronafiere SpA: new governance structure

The Veronafiere Shareholders’ Meeting held today gave the go-ahead for the company’s new governance structure as proposed by the Board of Directors. Having been unanimously appointed by the Board of Directors as Managing Director last June, following his Presidency of Veronafiere from 2015 to May 2022 (and currently also President of AEFI, the reference association for the Italian exhibition industry), the Board decided to expand Maurizio Danese‘s mandate rather than appoint a new CEO.

More efficient management

The rationalization plan for group companies – with the objective of streamlining management, to become more efficient by shortening the decision-making line while ensuring cost efficiency – and the new internal organisation structure were both illustrated during the Shareholder’s Meeting. Two new management figures are envisaged, who will work in close contact with the Managing Director, one of whom from a company wholly owned by the Group which will be fully merged with Veronafiere itself during 2023.

Federico Bricolo, president of Veronafiere

Federico Bricolo, President of Veronafiere

Over the last few months, we have worked very intensely on various fronts alongside the entire Board of Directors: from the organization of trade fairs and events in Italy, which only resumed at full capacity and without restrictions in March 2022, as well as abroad as markets opened up again; to the reorganization of the Veronafiere Group, both in terms of internal resources and corporate ramifications,” said the President of Veronafiere, Federico Bricolo. “It was a complex year in the wake of warfare that broke out in early March, followed by inflation and higher costs for energy and raw materials. Nevertheless, this crisis has not curbed our determination to get going again after two years of pandemic and the need to respond to a future full of challenges. This is demonstrated by the positive trend for the exhibitions held in 2022 – Vinitaly, Marmomac, Fieragricola, Fieracavalli and ArtVerona to mention but few – events which are a driving force behind the economy on a local, regional and national scale. Pursuing this virtuous path – one capable of creating value through exhibitions for client companies and reference production sectors – requires the essential involvement of all institutional and non-institutional stakeholders we have talked and collaborated with in recent months, not to mention the new government.”

Maurizio Danese, CEO Veronafiere

Maurizio Danese, Managing Director of Veronafiere

Veronafiere has resumed generating significant revenues and allied business, as well as working successfully abroad. Overall, we managed to organize 49 trade fairs and events – 35 in Italy and 14 abroad in 9 countries – and 250 conferences,” highlighted Maurizio Danese, Managing Director of Veronafiere. “Nonetheless, on a par with the entire Italian exhibition sector, we are suffering the impact of several significant external factors. The first concerns the additional costs we had to sustain for moving important exhibitions from the early months of 2022 to the beginning of March and May. The second concerns the growing costs, starting with energy, which we have had to absorb directly. These are serious concerns that we should without doubt also envisage for 2023, given that trade fairs are promoted and sold well before they take place, whereby tariffs for services and exhibition space are determined significantly in advance. However, we are optimistic because companies have shown great faith in the exhibition system and its ability to generate a return on investment, even from an export perspective, as well as current planning to outline the new look for Veronafiere. The objective is to begin 2024 with an increasingly competitive structure well prepared to take advantage of all possible alliances to guarantee its international development.”

Equity holdings:

Veronafiere S.p.A. shareholders are: Verona City Council (39.483%), Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno & Ancona (24.078%), Verona Chamber of Commerce (12.985%), Cattolica Assicurazioni (7.075%), Banco BPM Spa (7.009%), Agenzia Veneta per l’Innovazione nel Settore Primario (5.379%), Province of Verona (1.401%), Intesa Sanpaolo SpA (1.354%), Banca Veronese Cooperativo di Concamarise (0.883%), Immobiliare Magazzini Srl (0.188%) and Veneto Region (0.161%).