Vertiv completes CEO succession

Author: Beatrice

Vertiv has announced that Giordano Albertazzi assumed the role of CEO on 1 January, and was appointed to the Board of Directors.

“I’m honoured to take the helm of Vertiv as CEO. I’m looking forward to working closely with our leadership team and employees around the world to continue to increase the value we create for our customers, further strengthen our financial performance and create long-term value for our shareholders,” says Giordano. “As I’ve shared with Vertiv employees, we will work to achieve our full potential by focusing on building a high-performance culture of collaboration and innovation; institutionalising operational excellence and execution; and ultimately delivering profitable growth and improved cash flow.”

Dave Cote, Executive Chairman at Vertiv, states, “With more than two decades of operational and business experience at Vertiv and a track record of performance in both Europe and the Americas, Giordano is the right person to drive Vertiv forward. He was instrumental in driving significant operational and financial improvements while leading EMEA, and in the ongoing turnaround of the Americas. He understands how to build and maintain a high-performing culture. Giordano’s operational expertise and deep understanding of Vertiv’s business and customers will be pivotal in driving continued performance improvement while navigating macroeconomic uncertainty.”

As CEO, Giordano will aim to increase Vertiv’s relentless customer focus as it addresses the infrastructure and business needs of data centres, communication networks and industrial applications. 

Giordano assumes the CEO role at a time of continued strong demand across Vertiv’s data centre end markets. The company reported a record order backlog of $4.7bn as of the end of the third quarter of 2022.

Vertiv announced its CEO succession plan in October 2022, and since then Giordano assumed the role of Chief Operating Officer, working closely with former CEO Rob Johnson, ensuring a seamless transition.

In addition to becoming CEO, he will also continue in his position as President of Americas, until a successor is named. In connection with Giordano transitioning out of the COO role, operational oversight will reside with regional presidents to further focus on regional performance.