Piaggio Aerospace announced today that CEO Carlo Logli is stepping down. Logli will be replaced by COO Renato Vaghi on an interim basis until Piaggio is able to appoint a permanent replacement. This news comes after a recent July 28th statement from Piaggio indicating they were shifting their primary focus to military programs. This was followed by another statement on August 16th, in which the company reassured customers that they fully planned to keep manufacturing and supporting the Avanti Evo, a twin-turboprop pusher style aircraft.
Piaggio’s Company Chairman, Ali Al Yafei, had this to say about the change, “On behalf of the board and employees, I would like to extend my warmest thanks to Carlo Logli for his service to Piaggio Aerospace. He has shown great leadership in managing the business through a period which saw the delivery of a state-of-the-art manufacturing facility at Villanova d’Albenga against the challenging backdrop of tough economic conditions. It is time for a new CEO to deliver on the new industrial plan recently announced to yield a sustainable future for Piaggio Aerospace.”
Logli joined the company in 2013 as the chief restructuring officer in what was part of a “rescue and relaunch plan.” He will continue to act as a senior advisor to Piaggio’s board.
Continued Support for the Avanti Evo
In the July 28th press statement, Logli said, “Military platforms provide a sustainable and scaleable growth trajectory for Piaggio, which has been severely impacted by the contraction of the business aviation market.” He added that “shareholder approval of our military-focused industrial plan marks the next phase for one of the world’s oldest aircraft manufacturers. We now have a state-of-the-art manufacturing base at Villanova and a proven military program with the P.1HH HammerHead, both of which allow us to take on this new challenge.”
The release also said that they company was “actively seeking buyers of non-core areas,” such as its engine and civil maintenance, repair, and overhaul business lines.
According to AIN, this worried many Evo operators, some of whom had already expressed concern regarding what they saw as a poor product support. The new “military-focused industrial plan” seemed to indicate to them that Piaggio was drawing even further away from the Evo aircraft. AIN also pointed out declining delivery numbers of the civil Evo model for the past several years.
AIN reached out to Piaggio for further clarification regarding the future of the Avanti Evo, and got this reply from Logli, “There is no plan to stop Evo production or customer support of the Avanti programs, after having borne the considerable development costs and finally starting the delivery period.” When questioned further, Logli reiterated support for the Evo, adding “At present, the Avanti Evo will continue to be part of the Piaggio business.”
It’s unclear if or how Logli’s stepping down as CEO may affect this position.
Featured Image: Piaggio Aerospace