Fuel Systems Solutions: New COO
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New York - Fuel Systems Solutions, Inc. (FSYS) appointed Andrea Alghisi, 48, Chief Operating Officer effective February 22, 2016. Mr. Alghisi returns to Fuel Systems having previously held the position of interim COO when he was with AP Services, LLC, an affiliate of AlixPartners, LLP, from April 27, 2015 until his resignation as Managing Director of AlixPartners at the end of the third quarter of 2015.
“We are delighted Andrea is resuming his role as COO,” Mariano Costamagna, Fuel Systems Solutions, Inc. (“Fuel Systems” or “FSS”) CEO, said. “He will oversee operations and resume a leadership role in implementing the restructuring plan adopted by our board. Having planned and begun implementation of our 2015 cost reduction and operating profit improvement initiatives, he is well suited to this role and eminently well qualified to provide continued leadership and direction. With his 20 years of experience leading turnarounds and growth programs in our sector, and his institutional knowledge of Fuel Systems, Andrea will be a valuable asset to our team.”
Mr. Alghisi commented, “I am dedicated to helping the FSS team create efficient operations in the automotive and industrial space by consolidating technologies, and working to grow revenue by developing complementary product solutions, expanding product portfolios, OEM relationships, and global distribution networks. I look forward to working with this team again to complete the work we started.”
Mr. Alghisi, joins Fuel Systems from McKinsey & Co. Previously, he was a Managing Director of AlixPartners, a financial advisory firm specializing in business performance improvement and corporate restructuring initiatives, where he was Core member of the EMEA Automotive & Industrial Goods practice. Mr. Alghisi has more than 20 years of professional experience primarily dedicated to leading turnaround, performance improvement and growth strategy programs in the automotive and industrial goods industry. He has worked for the last 12 years at AlixPartners, supporting investors and management of industrial companies developing and implementing competitive strategies and turnaround programs. Mr. Alghisi led several transformation and cost reduction programs for large European Automotive OEMs and carried out turnaround activities for several companies in Automotive and Industrial Goods Industries. Prior to joining AlixPartners in 2003, Mr. Alghisi worked for 10 years both as a manager in Fiat Group and as a consultant at The Boston Consulting Group, where he performed major performance improvement and growth strategy programs for the automotive & industrial goods practice and the consumer & retail practice. Mr. Alghisi received his degree in mechanical engineering from Politecnico of Torino, Italy. He received his Master of Business Administration from SDA Bocconi in Milan, Italy. Mr. Alghisi is an occasional lecturer and contributor to conferences and publications on the subjects of automotive industry and corporate restructuring.
About Fuel Systems Solutions
Fuel Systems Solutions, Inc. (FSYS) is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications. Fuel Systems' components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas, used in internal combustion engines. These components and systems feature the Company's advanced fuel system technologies, which improve efficiency, enhance power output and reduce emissions by electronically sensing and regulating the proper proportion of fuel and air required by the internal combustion engine. In addition to the components and systems, the Company provides engineering and systems integration services to address unique customer requirements for performance, durability and configuration. Additional information is available at www.fuelsystemssolutions.com.