(Alliance News) - Intred Spa announced Tuesday that its general manager, Federico Protto, has resigned to pursue new professional opportunities internationally.

Protto's resignation will be effective March 28, and he, who owns 3,000 shares of the company's common stock, said, "I am leaving a solid company with great potential for growth, whose focus and central presence in the Lombardy and Italian markets I appreciated. Together with Daniele Peli and the management team we have laid the foundations for further growth, a dimensional leap and several projects that will characterize Intred's development in the coming years."

Daniele Peli, co-founder and managing director of Intred, commented, "I would like to thank Federico Protto for his contribution during this period of his presence in the company, which has enabled a strengthening of the processes already underway for the managerialization of the company and which will continue in the future, with the eventual identification of additional figures who can lead the entire team. We can count on a team of highly qualified internal managers who we believe will make the company increasingly solid, competitive and autonomous, capable of managing future growth."

"My commitment to the company in the role of CEO remains undiminished, as it has always been since its establishment, to achieve growth objectives through both internal lines and external opportunities. I believe that Intred's results to date are a guarantee of our ability to know how to best manage the ordinary and strategic side of the company."

Intred's stock is down 4.3 percent at EUR10.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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