Cefla names Andrea Formica its new CEO

Tuesday, March 13, 2018

Imola, Italy –

Andrea Formica has been appointed as the new CEO of Cefla by the company's board of directors. He will take office starting January 2018.

An international multi-business firm with sales of approximately $500 million euro ($593.4 million USD), Cefla is composed of five units: Cefla Finishing, Cefla Medical Equipment, Cefla Plant Solutions, Cefla Shopfitting which includes retail design and solutions, and C-LED which specializes in the development of LED technology. The company has 26 offices worldwide; based in Charlotte, N.C., Cefla North America is known in the woodworking industry for its finishing solutions.

Formica's background includes experience in the automotive sector where he held several international positions, including chairman and managing director of Ford Italy, senior vice president at Toyota Motor Europe in Brussels, and CEO at Fiat Automobiles, with responsibility for the group’s sales as well as the full product portfolio. Most recently he was a board member of Piaggio & C.

“The new CEO of Cefla was appointed following an extensive evaluation and search for a leader with an international background and high profile experience, familiar with complex industrial environments and able to bring a strategic approach to our business," said Gianmaria Balducci, president of the board of directors. "It is very important that the vision of the new CEO fits in with Cefla’s: Creating value over time, focusing on strategies sustainable in the mid-to-long term instead of short-term results.”

“I am strongly motivated by this new challenge" Formica said, "which will allow me to share my experience of multinational business environments such as Ford and Toyota and can help serve a successful Italian company like Cefla, in addition to understanding new growing businesses at the forefront of technological evolution.”

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