Riccardo Ruggiero Joins Permira

Riccardo Ruggiero, former CEO of Telecom Italia, has joined Permira as a senior advisor.

 

PRESS RELEASE

 

Permira, an international private equity firm, announced today the appointment of Riccardo Ruggiero, former CEO of Telecom Italia, as Senior Adviser to the Firm. Mr. Ruggiero will support Permira in identifying investment opportunities across a number of sectors with a specific focus on the Technology, Media and Telecommunications industry (TMT).

 

Mr. Ruggiero will also advise Permira on maximising value creation in its existing portfolio companies. Mr. Ruggiero spent 7 years at Telecom Italia, between 2001 and 2007, in a variety of senior management roles and was appointed Chief Executive of the Company in September 2002. In this role he was responsible for managing the expansion of the company's fixed and mobile networks as well as developing its broadband and digital media offering worldwide.

 

Prior to Telecom Italia, Mr. Ruggiero was CEO of Infostrada (1996 to 2001) and Vice-President of Oliservice and Olivetti Telemedia, Olivetti Group (1991 to 1996). Previously he was Sales and Marketing Director at AT&T (1988 to 1991) and held the same position at Fininvest, Mediaset Group (1986 to 1988). Mr. Ruggiero holds a Law Degree from La Sapienza University in Rome.

 

Carl Parker, head of the Permira TMT sector team, commented: “We are delighted that Riccardo Ruggiero has accepted to join Permira as Senior Adviser. This appointment further reinforces our capability in the TMT space, one of the firm's core sectors of expertise, where we have a long track record of successful investments over the past 25 years. Riccardo Ruggiero's experience in this sector will be invaluable to help us identify exciting new investment opportunities and create further long-term value in our existing portfolio. ”

 

Nicola Volpi, co-CEO of Permira in Italy together with Gianluca Andena, added: “Riccardo Ruggiero has a very successful track record in managing leading TMT companies in Italy. His operational expertise and knowledge of the Italian market will be of great value to the team as we continue to deepen both our in-depth industry expertise and geographical reach which have become Permira's trademark over the years.”

 

Riccardo Ruggiero said: “I am delighted to be joining Permira, an international private equity firm with a long-standing presence in Italy and a strong track record in my sector of predilection, TMT. I am impressed by their industrial approach and focus on long-term value creation and believe I will be able to bring some useful complementary skills to the existing team. I am looking forward to helping the team maximise its potential in the TMT sector and fulfil its ambitious expansion plan.”

 

About Permira Permira is an international private equity firm. Our funds, raised from pension funds and other institutions, make long-term investments in companies with the ambition of transforming their performance and driving sustainable growth. The firm's teams are based in Frankfurt, Guernsey, London, Luxembourg, Madrid, Milan, New York, Paris, Stockholm and Tokyo, advising funds with a total committed capital of approximately EUR22 billion (US$30 billion). Since 1985, the Permira Funds have completed over 180 private equity transactions.

For more information visit: www.permira.com