Confindustria, the influential Italian employers’ lobby group, underlined how important family businesses are for the country’s economy by appointing another family business leader as its new president on 22 March.
Giorgio Squinzi, chief executive of family-controlled adhesives and paint maker Mapei, was chosen by the organisation’s board of directors to replace current president Emma Marcegaglia, whose term is due to end in May.
The son of Mapei founder Rodolfo Squinzi, Giorgio joined the family business, which in 2010 had revenues of €1.57 billion, in 1970 and took over the helm in 1984.
He received 93 votes, 11 more than Alberto Bombassei, who chairs Brembo, a family-controlled car brakes company based in Bergamo.
Since 2008, Marcegaglia has combined her role as president of Confindustria with serving as co-chief executive of Marcegaglia, the steel group founded by her father Steno in 1959.