Ernesto Greco Resigns as CEO of the Natuzzi Group

Furniture World News

Natuzzi S.p.A. , a leading manufacturer of leather-upholstered furniture, announced that Ernesto Greco has resigned as CEO of Natuzzi SpA. His resignation will be effective September 30, 2007, in order to guarantee the necessary operational continuity. Pasquale Natuzzi, currently Chairman of the Board of Directors, will be proposed for the appointment as next Chief Executive Officer of the Natuzzi Group at the next meeting of the Board that will be held at the beginning of September 2007. Ernesto Greco commented: “I resigned the position of CEO for personal and professional reasons. I am firmly convinced that Natuzzi is a great Company with a high potential, and I am thankful for the confirmed trust since I have been requested to remain in the Board.” Pasquale Natuzzi stated: “I am sorry for Ernesto’s decision, a very responsible professional, with proven ability and experience, who, notwithstanding his short staying in the Group, started new projects that will surely bring good results. At the same time I am pleased he will continue to give his valuable contribution to the Group as Member of the Board. I wish Ernesto a career full of satisfactions and new accomplishments. During this very important and challenging period for our Company, I will pledge myself to guarantee continuity and lead the management towards the ambitious goals we intend to achieve”. ABOUT NATUZZI S.P.A. Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and manufactures a broad collection of leather-upholstered residential furniture. Italy’s largest furniture manufacturer, Natuzzi is the global leader in the leather segment, exporting its innovative, high-quality sofas and armchairs to 123 markets on 5 continents. Since 1990, Natuzzi has sold its furnishings in Italy through the popular Divani & Divani by Natuzzi chain of 123 stores, and 1 Natuzzi Store. Outside Italy, the Group sells to various furniture retailers, as well as through 158 licensed Divani & Divani by Natuzzi and Natuzzi Stores. Natuzzi S.p.A. was listed on the New York Stock Exchange on May 13, 1993. The Group is ISO 9001 and 14001 certified.