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Cimos performance significantly improved since Mutares acquisition. Mutares helped restore financial health and operational excellence while providing multimillion-euro financial aid to support Cimos recovery. This has been essential to rebuild trust and confidence with all stakeholders.

Cimos has a clear vision of how to become a success story, although the journey to get there is not yet complete and some options are being evaluated.

At the beginning of the year, Andrea Pappagallo was appointed as the new CEO of Cimos Group. He brings a wealth of experience and expertise to Cimos, particularly in the automotive industry, where he has demonstrated outstanding leadership. With an extensive international background across different companies, industries and positions, plus broad business experience in North America, Europe, Brazil, India, China and Korea, Andrea Pappagallo is poised to drive innovation, operational excellence, and strategic growth for our company.

Andrea Pappagallo: “As I step into this new role, I recognize that our company is facing challenges and may not be in the best shape. However, I am fully committed to working tirelessly alongside our team to drive improvements and restore our company to its rightful place. Together, with dedication and perseverance, and with the help of all stakeholders, we will overcome obstacles and chart a course for success.”