Changes in the Mediterranean and Africa region management

Coface is announcing two changes in the Mediterranean and Africa region management with the appointments of Ernesto de Martinis as Managing Director for the region and Pietro Vargiu as Country Manager in Italy. These changes will be effective from 1 July 2024.

Ernesto is based in Milan and will report to Xavier Durand, CEO of Coface. He replaces Cécile Paillard who will continue her career outside the Group.

Ernesto joined Coface in 2000 and was appointed Country Manager of Coface Italy in 2012. Under his leadership, Coface Italy has become the largest contributor to Coface's turnover and a strong, profitable, and diversified entity with a leading position in the credit insurance and bonding market. The development of business information is a new growth area in the Italian market, benefiting from positive momentum.

Pietro has a long career in the insurance sector and has held various positions within Coface for the Italian and regional activities, in the areas of risk and commercial sales and underwriting.

Ernesto and Pietro's objective will be to enable Coface to continue its growth trajectory and to play a key role in the 2024-2027 "Power the core" strategic plan.

Coface would also like to thank Cécile Paillard for her commitment over the past 7 years and wish her every success in her future career.

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