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Titagarh Firema appoints Mr Luigi Corradi as its new managing director and CEO

Posted On: 2019-09-13 12:00:03

Titagarh Firema SpA, Italy (TFA) - a wholly owned subsidiary of Titagarh Wagons Limited (TWL) has appointed Mr. Luigi Corradi as Managing Director and Chief Executive Officer (CEO) at the Board meeting of TFA following general assembly held on 10th sept 2019.

A Mechanical Engineering graduate from Genova and MBA from Milan, Mr. Corradi, 53 is a resident of Italy. He has experience of about 23 years including 19 years at a senior level. Before moving to Titagarh, Mr. Corradi headed Bombardier Transportation Italy as Chairman and CEO for six years. During his tenure, he was in charge of the worldwide Bombardier business of the Double Deck trains platform and managed several teams mainly based in UK, Germany, France, Canada and Italy.

Mr. Corradi thanking the Board for the trust placed in him said: "I am pleased and privileged to have the opportunity to lead the team at Titagarh Firema as CEO and moreover be a part of the Titagarh. Titagarh offers a unique value proposition being the only Indian multinational in the field of manufacturing railway rolling stock and has one of the largest and most comprehensive manufacturing plants in Europe. My intention will be to utilise the synergy of the Group to cater to the Italian, Indian and global markets alike using the wonderful platform and base that Titagarh provides and growing upon that. I am excited to take up the role and will engage with all stakeholders to make Titagarh the most preferred and dependable solution provider for all passenger rolling stock and propulsion requirements in Italy, India and globally."

Speaking on this occasion Mr. Umesh Chowdhary, Chairman of the Board of Titagarh Firema and Group CEO of Titagarh said: "I am very happy to welcome Luigi to the Titagarh family and wish him the best of luck on this extremely exciting iourney that he is embarking on. Luigi has a vast experience and proven track record of leadership and having worked in various functional departments before taking up the leadership role, he understands the nifty-gritty of the railway business very well. I am sure Mr. Corradi ably supported by the team of professionals at Titagarh, is going to lead the company to new heights. Titagarh is privileged to have a thorough professional like Mr. Corradi as its integral part".

Mr. Corradi has played several managerial roles in Italy and abroad, both in operations ancf project coordination/liaison including Project Engineer and Project Manager of ANSALDO ENERGIA Genova (power generation business) 'steam turbine department' and Lieutenant of the Technical department at NAVY SHIPYARD.

After a stint spanning over three years at ANSALDO ENERGIA focusing on technical design and execution of a specific project, he moved to ABB DAIMLERBENZ TRASPORTATION ADTRANZ Vado ligure (today BOMBARDIER TRASPORTATION) in 1996 and spent seventeen years as Project Engineer / Operation Manager / Project Director before his elevation to the role of CEO of Bombardier Transportation Italy, which has approximately 250 million euro revenues and 800 employees, and is part of the Canadian Group Bombardier, world leader in the design and implementation of projects and services of rail and air transport.

Mr. Corradi is Vice President of ASSIFER, a representative body of the companies that operate in Italy in the sector of railway transport and electric urban public transport viz. Metro, Tram, Trolleybus, for the construction of vehicles, components and systems for Rolling Stock, Signaling & Tlc and Electrification. ASSIFER is part of the ANIE Federation which represents electro technical and electronic companies.

Shares of TITAGARH WAGONS LTD. was last trading in BSE at Rs.41.95 as compared to the previous close of Rs. 43.1. The total number of shares traded during the day was 43375 in over 673 trades.

The stock hit an intraday high of Rs. 44.45 and intraday low of 41.45. The net turnover during the day was Rs. 1839573.

Source: Equity Bulls

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