Coin SpA names Ugo Turi as new CEO
On Friday February 17, the board of directors of Italian department store group Coin SpA appointed Ugo Turi as the group's new CEO, with immediate effect. Turi is an experienced executive, and has worked at complex organisations like Montedison and Fininvest. His appointment follows that of Marco Marchi, who took over from Giorgio Rossi as president in early February.
Turi was already a member of Coin’s board, overseeing a number of operational areas within the group, and has been chosen to spearhead the achievement of the targets set by Coin’s strategic plan, at a highly dynamic time for the retail world.
“I am grateful to the board of directors for the opportunity I have been given, a recognition for my work and that of all the executives who have believed and invested in Coin. I will take pride in leading a strong team, whose potential I am well acquainted with, a team that I am sure will continue to act with harmony and commitment, with the goal of further growing the company, helping it grapple with and realise the challenging objectives we have in mind,” said Turi.
In 2022, Coin SpA generated a revenue of €300 million, up from the €288 million recorded the previous year. Total consolidated revenue, VAT included, was approximately €440 million, inclusive of the revenue generated by the group’s partners operating separate accounts. EBITDA was on par with 2021 at €18.7 million, and net income is expected to be €20 million, a marked increase.
The Veneto-based group has a nationwide presence in Italy, in city centres and high streets, and operates 37 directly owned branches and 102 Coincasa stores in Italy and abroad. Coin distributes over 1,000 consumer brands across a retail area of approximately 110,000 square metres, and also operates its own marketplace. As Coin Excelsior, the group operates branches in Rome (via Cola di Rienzo), Milan (in the Milano CityLife Shopping District, and on Corso Vercelli) and Trieste (on corso Italia).
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