Chairman

Roberto Italia

Roberto Italia graduated in Economics and Business at LUISS in Rome (Italy) in 1990 and joined the STET / Telecom Italia Group. In 1994, after earning his MBA degree at INSEAD in Fontainebleau (France), he started in private equity with Warburg Pincus, then Henderson Private Capital and, more recently, Cinven. Founder and director at Space Holding and Red Black Capital, he is CEO of Verlinvest, chairman of Billy’s and independent board member at Cavotec and lastminute.com Group.

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CEO

Giulio Ranzo

Giulio is CEO of Avio SpA since October 2015. He is also a board member of Arianespace SA, Europropulsion SA and Regulus SA in France. In 2016 he founded In-Orbit SpA, and investment vehicle through which he co-invested with 50 Avio managers, acquiring a 4% share of Avio’s capital. In 2017 he listed Avio on the Milan Stock Exchange on the STAR segment with over 70% free float.

From 2011 to 2015 he was Senior Vice President Corporate Strategy of the Avio Group and worked on the de-merger of the aero-engine business, which was sold to General Electric in 2013. In 2014-2015 he supported the post-merger integration with GE Aviation.

Between 2007 and 2011 he was Co-General Manager and CFO of the Italian activities of Cementir Holding, an international group operating in the building materials industry.

Giulio started his career in Booz Allen Hamilton, a global strategy consulting firm where he worked in the period 2000-2007 as Associate, Senior Associate and Principal within the Global Aerospace&Defense practice for several clients in Europe, US and Middle East.

Giulio holds a Laurea cum laude in Civil Engineering from the University of Rome and a PhD in Structural Engineering from a joint program between the University of Rome and the University of California San Diego (UCSD). Between 1996 and 1999 he was a Graduate Research Assistant and Development Engineer at the University of California San Diego and he has co-authored a number of scientific publications on international journals in the domain of Structural Engineering.

Giulio was born in Rome in 1971, he is married and he has two children.

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Directos

Milena Lerario

Milena Lerario has been the Chief Executive Officer of e-GEOS since September 2024, a leading company in Earth observation and geoinformation services, jointly owned by Telespazio (Leonardo Group) and the Italian Space Agency (ASI).
She brings over 20 years of experience in the aerospace sector, having built an extensive and international career within the Airbus Group. Starting in 2008 at Airbus Defence and Space GmbH in Germany, she held various positions of increasing responsibility, including Head of the Project Management Office for complex space programs and later Head of Strategy & Transformation at Airbus Italia S.p.A.
In 2022, she was appointed CEO of Airbus Italia, where she led operational, industrial, and strategic activities in the space and defense sectors.
Milena holds a degree in Aerospace Engineering and an Executive MBA from Bocconi University.
She is actively committed to promoting diversity and inclusion, with a particular focus on female leadership in the aerospace industry and STEM disciplines.

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Independent director

Giovanni Gorno Tempini

Giovanni Gorno Tempini graduated in Economics from the Luigi Bocconi University of Milan in 1987 and began his career in JP Morgan in the Global Markets sector, holding various executive positions at JP Morgan in Milan and London, with responsibilities in Italy and EMEA. Since 24 October 2019 Giovanni Gorno Tempini is Chairman of the Board of Directors of Cassa Depositi e Prestiti SpA, of which he was previously CEO from May 2010 to July 2015. He is also Chairman of CDP Reti SpA from 28 November 2019 and Chairman of CDP Equity SpA from April 2, 2020. He is professor at the L. Bocconi University of Milan and has been professor at the Ca 'Foscari University of Venice. He is Chairman of the Board of Directors of F.I.L.A. - Fabbrica Italiana Lapis and Affini S.P.A. and he is member of the board of Avio Spa.
On 31 March 2021 he was appointed Member of the Board of Directors of TIM S.p.A.
On April 2020 he has been appointed Member of the Committee of Experts on Economic and Social matters led by Vittorio Colao (dPCM, April 10th 2020) at the Prime Minister’s Office. The Committee, with the purpose to face the epidemiological emergency COVID-19, drafted the Report "Initiatives to relaunch the Country “Italy 2020-2022”.

Independent director

Donatella Sciuto

Donatella Sciuto is Vicar Vice-Rector of the Polytechnic of Milan. She is Full Professor of Computing Systems at the Department of Electronics, Information and Bioengineering. She has been nominated IEEE Fellow for her scientific contribution in "embedded systems design". Donatella Sciuto holds a degree in Electronic Engineering from the Polytechnic of Milan and a PhD in Electrical and Computer Engineering from the University of Colorado, Boulder. She holds a Master in Business and Administration (CEGA) from the Bocconi University School of Business Management. Since 2013 she has been a member of the Superior Council of the Bank of Italy and President of the Supervisory Board of its branch in Milano. Since 2017 she has been an independent member of the Board of Directors of AVIO S.p.A and Raiway S.p.A. Since 2018 she has been a member of the Supervisory Board of the Human Technopole Foundation. She was Vice President of Finance of the Council on Electronic Design Automation of IEEE (the world's largest professional organization in technology) from 2008 to 2010, subsequently President Elect and President from 2011 to 2013.

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Director

Letizia Colucci

Letizia Colucci graduated in Law at Federico II University in Napoli and she works as a lawyer at Neaples. She has worked in the legal office of Alenia Spazio (now Thales Alenia Space Italy) and Alenia Difesa where she has been involved in the creation of the Alenia Marconi Systems joint venture, for which she has been Legal and Corporate Officer. She has been in charge of the due diligence process and transfer activities for the creation of MBDA joint venture, for which she has been General Affairs Director. In 2005 she has been General Affairs Director of Selex Sistemi Intergrati and subsequently Deputy General Director and General Codirector. Currently she is President of the MBDA Italia Board of Directors; member of e-GEOS Board of Directors; Secretary General of Telespazio; board member of Telespazio Iberica and member of GAF Supervisory Board.

Independent director

Elena Pisonero

María Elena Pisonero Ruiz graduated in Economic Sciences from the Autonomous University of Madrid. She started her career at Siemens then she moved to Ernst & Young as a Senior Consultant. She is currently Executive President of Taldig. In March 2012 she was appointed, at the proposal of the Spanish Government, President of the satellite manager Hispasat until October 2019 and Advisor of Hisdesat. Previously, starting from 1996, she was appointed as Adviser and Director of the Cabinet of the Spanish Minister of Economy and Finance. Between 1998 and 2000, within the Spanish Government, she was Secretary of State for Commerce, Tourism and Small and Medium-sized Enterprises. Subsequently, she was appointed as Ambassador of Spain to the OECD, position she held until 2004. Since 2005, she worked at KPMG developing the Infrastructure and Public Administration area and later as a Partner and Advisor to the President until 2012.

Independent director

Raffaele Cappiello

Raffaele Cappiello graduated in Law from the La Sapienza University with honors. Since 1992 he has carried out legal consultancy and assistance, also in court, in corporate, banking, financial and bankruptcy matters at the office of prof. Libonati in Rome, also as a partner of the professional association "Libonati-Jaeger", until 2010 when he founded his own studio in Rome. He currently holds the following positions: Independent director, of B&C Speakers SpA, AVIO SpA, Mediaset SpA; Director of the Pension Fund S.I.A.E .; Member of the Consultative Committee of the Tessalo Fund - Closed Closed-End Real Estate Alternative Investment Fund - managed by DeA Capital Real Estate SGR SpA.

Independent director

Donatella Isaia

Donatella Isaia was the Human Resources and Organization Director of Vodafone Italy and a member of the Executive Committee from November 2015 to August 2019. She joined Vodafone in 2006 and has held positions of increasing responsibility both in Italy and abroad. In 2007, as head of HR activities, she took part in the Vodafone start-up in Qatar and Ghana. In 2008 she was appointed HR Director of TeleTu in Italy. Since 2011 she has been in London in the HR direction of the Vodafone Group until she assumed the role of HR Director Corporate Functions and Shared Services in 2013, with responsibility for guiding the development of approximately 13,000 people spread over 6 countries (United Kingdom, Luxembourg, Romania, Hungary, India and Egypt). Previously Donatella Isaia was Head of Recruitment and HR Management of the Organizing Committee for the XX Olympic Winter Games in Turin. Graduated in Educational Sciences, Donatella was born in Turin and she lives in Milan.

Independent director

Marcella Logli

Among the first women to graduate in Information Science from the University of Milan, she began her career in the first multimedia team at Apple Computer SpA. She later joined Olivetti Telemedia.
Her professional path continued within the Telecom Italia Group, where she contributed to the launch of Telecom’s first telemedicine company (Telbios) and of MyDoctor@Home. In 2014, she was appointed General Director of the TIM Foundation. In 2018, she joined the largest private hospital group in Italy—and one of the leading ones in Europe, the San Donato Group—as Chief Digital Officer reporting directly to the President, where she was responsible for defining and executing the Group’s digital transformation plan.

President of the Board

Vito Di Battista

Born in Lecce on 10 January 1952, Vito Di Battista has a degree in business administration from the Università Commerciale Luigi Bocconi. A Chartered Accountant and Auditor, he provides tax advice to industrial and financial companies, including listed ones. He is currently Chairman and Chief Executive Officer of Angelini Finanziaria S.p.A., Chairman of the Board of Directors of IBL Real Estate SRL, Standing Auditor of Net Holding S.p.A., of Net Insurance S.p.A. and Net Insurance Life S.p.A. - Companies subject to the management and coordination of Poste Vita S.p.A. - and of Alternate Auditor of Acea S.p.A. He has been a member of the Supervisory Committee of Banca Popolare Andriese in a. s., of Banca di Credito Cooperativo di Pachino in a. s. and Banca di Credito Cooperativo "S. Apollonia" di Ariccia in a. s. He has also held the position of Chairman of the Board of Statutory Auditors of Bancaperta S.p.A. and Cassa di Risparmio di Fano S.p.A., among others, of Director of Istituto Bancario del Lavoro S.p.A. and Cuki Group S.p.A., of Chairman of the Board of Directors of Atlantide S.p.A., of Statutory Auditor of the supplementary pension fund Fondenergia. He was also a member of the Board of Directors of Ned community.

Auditor

Mario Matteo Busso

Mario M. Busso is a business consultant, statutory auditor and independent administrator. He graduated in Economics and has a Master in Business Administration. He started his career at Industrial National Bank in the United States. He has been Partner Affair Group Italy, member of the Advisory Council Italy and of the Advisory Council Worldwide and member of the Board of Directors at Andersen Network. Subsequently, he has been member of the FSI Audit Management Team, FSI Audit Division Leader and member of the Management Team Audit at Deloitte Network. He has gained an important expertise in auditing and budget certification of listed companies in Spain, Italy, UK and USA.

Auditor

Michela Zeme

Michela Zeme has a degree in Business Economics from Luigi Bocconi University in Milan. He works as a Chartered Accountant and Legal Auditor in Milan. She gained broad experience in tax and corporate issues of Italian Companies in the industrial, financial, insurance and banking sectors. She is Responsible of the Area “Governance società quotate” Centro Studi AIDC Milan, Member of the Reflection Group “La Corporate Governance delle PMI” Nedcommunity, Inspector for Co.Vi. So.C. – surveillance Commission for Professional Football Clubs of the Italian Football Federation (F.I.G.C.). She is Member of Boards of Directors and Statutory Auditors of listed and financial companies.

Substitute auditor

Sara Fornasiero

Sara Fornasiero graduated in Economics from the Catholic University of the Sacred Heart in Milan. She began her work experience in 1993 in KPMG S.p.A. She is a chartered accountant and statutory auditor and she deals with projects in the field of corporate governance, risk management, anti-bribery and corruption and sustainability for listed and unlisted companies. Currently she holds the office of Statutory Auditor of Leonardo S.p.A., President of the Board of Statutory Auditors and of the Supervisory Body of Arnoldo Mondadori Editore S.p.A., Auditor of Avio S.p.A. and UnipolSai Assicurazioni S.p.A., Auditor and President of the Supervisory Body of Bricoman Italia S.r.l., Auditor of MBDA Italia S.p.A., member of the Supervisory Body of BT Enìa Telecomunicazioni S.p.A., Philips S.p.A., Philips Innovations S.p.A. and Philips Espresso Industries S.r.l.

Substitute auditor

Roberto Cassader

Graduated in Economics in 1990 from the Catholic University of the Sacred Heart in Milan, he is  a chartered accountant since 1994 and statutory auditor since 1999. Currently he holds, inter alia, the office of Chairman of the Statutory Auditor of Servizi Italia S.p.A., Isagro S.p.A., Fata Logistic Systems S.p.A., F2i TLC1 S.p.A. and standing Statutory Auditor of Webuild S.p.A. (ex Salini Impregilo S.p.A.) and EI Towers S.p.A.. He held, inter alia, the office of standing Statutory Auditor of Coca Cola Italia S.r.l., Rigamonti Salumificio S.p.A. and Telegate Italia S.r.l.. He provides tax and corporate law advices and deals with tax litigations, for companies operating mainly in international context, as well as company valuations.

External auditor

Deloitte & Touche S.p.A.

President

Alessandro De Nicola

-

Giorgio Martellino

-

Raoul Francesco Vitulo

CEO

Giulio Ranzo

Giulio is CEO of Avio SpA since October 2015. He is also a board member of Arianespace SA, Europropulsion SA and Regulus SA in France. In 2016 he founded In-Orbit SpA, and investment vehicle through which he co-invested with 50 Avio managers, acquiring a 4% share of Avio’s capital. In 2017 he listed Avio on the Milan Stock Exchange on the STAR segment with over 70% free float.

From 2011 to 2015 he was Senior Vice President Corporate Strategy of the Avio Group and worked on the de-merger of the aero-engine business, which was sold to General Electric in 2013. In 2014-2015 he supported the post-merger integration with GE Aviation.

Between 2007 and 2011 he was Co-General Manager and CFO of the Italian activities of Cementir Holding, an international group operating in the building materials industry.

Giulio started his career in Booz Allen Hamilton, a global strategy consulting firm where he worked in the period 2000-2007 as Associate, Senior Associate and Principal within the Global Aerospace&Defense practice for several clients in Europe, US and Middle East.

Giulio holds a Laurea cum laude in Civil Engineering from the University of Rome and a PhD in Structural Engineering from a joint program between the University of Rome and the University of California San Diego (UCSD). Between 1996 and 1999 he was a Graduate Research Assistant and Development Engineer at the University of California San Diego and he has co-authored a number of scientific publications on international journals in the domain of Structural Engineering.

Giulio was born in Rome in 1971, he is married and he has two children.

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Communications & External Relations

Francesco De Lorenzo

Financial Officer

Roberto Carassai

Roberto Carassai Joined Avio on October 2025 as Chief Financial Officer. In the past, he served as member of the board of directors of Italiana Petroli S.p.A. In addition, throughout his career, he also acted as Chief Financial Officer for several companies, including Italiana Petroli S.p.A. (2023-2025), ITA Airways (2020-2023), Ansaldo Energia (2019-2020), Trevi (2017-2018), Ansaldo STS (2013-2017) and Thales Alenia Space Italia (2011-2013).

Mr. Carassai holds a degree in Economics and Commerce from the University of Ancona, Italy.

Legal Officer

Giorgio Martellino

Giorgio Martellino – Chief Legal Officer. Has served as General Counsel, Compliance Officer and Risk Manager since 2016, and is also a member of the Supervisory Board, pursuant to Legislative Decree 231/01. In-house lawyer since 1996, Martellino has more than 20 years of international experience in legal, compliance and corporate governance, having held position as General Counsel in leading multinational and Italian companies, including Abbott, Natuzzi, Cementir Holding and Acquedotto Pugliese. His leadership roles extend to professional associations, having served as Vice Chairman of the Italian In-House Counsel Association (AIGI) and Chairman of the Italian Association for Transparency and Anticorruption (AITRA).  

Institutional Relations

Stefano Stefanile

Stefano Stefanile – Chief of Institutional Relations. A long-serving career diplomat, he was Deputy Permanent Representative of Italy to the United Nations in New York between 2018 and 2022. He previously held several positions in Italian Diplomatic Missions (New York, London, Athens, Tokyo) and senior roles at the Ministry of Foreign Affairs, including Principal Director for Global Issues during the Italian G7 Presidency in 2017.

Human Resources Officer

Stefano Bottaro

Stefano Bottaro – Chief Human Resources Officer. Responsible for defining and implementing HR policies and strategies globally. Stefano began his career in 1997 at RAI S.p.A., later moving to Poste Italiane and Bridgestone TCE, where he served as HR Director. He then became HR Director at Alliance Medical and, in 2014, assumed the same role at the Teatro dell' Opera di Roma. 

Strategy Officer

Marco De Luca

Marco De Luca – Chief Strategy Officer since 2024. De Luca, a Mechanical Engineer, began his professional career in 2013 at Ferrari, where he held multiple roles in the R&D department, eventually becoming Powertrain Control Specialist. After completing a Master in Business Administration (MBA) at SDA Bocconi, he pursued a consulting career at The Boston Consulting Group (BCG). At BCG he held roles as Consultant, Project Leader, and Principal, focusing on the Industrial Goods sector and working on strategy, M&A, and business transformation projects.

Operating Officer

Rosario Esposito

Rosario Esposito – Chief Operating Officer. Responsible for ICT, World Class Manufacturing (WCM), Production, Integration and Testing, EHS (Environment, Health and Safety), and Supply Chain. Graduated in Electronic Engineering, Rosario has over 30 years of experience in operations and supply chain management, primarily in the aerospace sector in Europe and USA, having worked with prestigious companies such as Boeing and General Electric Aviation.

Engineering Officer

Ettore Scardecchia

Ettore Scardecchia - Chief Engineering Officer. After a master’s degree in mechanical engineering and a PhD in Mechanical Systems Design, Scardecchia began his professional career at Alenia as a Satellite Mechanical Engineer. He later took on the role of Business Manager at a technical consulting company before joining Avio in 2003, where he held increasing levels of responsibility, including System Engineer, Mechanical System Engineering Manager, Product Development Manager, and Chief Technical Officer (CTO).

Quality Officer

Angela Natale

Angela Natale - Chief Quality Officer. A former President of Boeing Italy, CEO of Boeing Southern Europe, and Deputy Vice President for the American Chamber of Commerce in Italy, she holds a degree in Aeronautical Engineering and a PhD in Mechanical Engineering. With 29 years of international experience in the aerospace sector, she has held senior roles at Leonardo as well. Angela was named one of the 100 Best Women in 2021 by Forbes Italy and one of the 50 Most Powerful Women (MPW) in 2022 by Fortune Italy. In 2023, she was honored as ‘Laureata Illustre’ by the University of Naples Federico II and awarded the ‘Coraggiosamente Donna’ (Courageously Woman) prize for her dedication to supporting female leadership.

Program Officer

Marco Biagioni

Marco Biagioni – Chief Program Officer. He joined the company in the engineering department immediately after obtaining a Master's degree in Nuclear Engineering. He later expanded his experience in France at Europropulsion, where he served as Engineering and Program Management Manager for four years. Upon returning to Avio, he held high-profile positions, including Engineering & Test Manager, Program Management Manager, and Procurement Manager. He was later seconded back to Europropulsion and Regulus, where he served as Member of the Board of Directors and CEO, respectively.

company

Avio company

Corporate bodies

Avio’s corporate governance system gives a central role to the Board of Directors and the Committees.
The corporate governance structure of Avio is consistent with the company’s goals. Avio’s governance is inspired by modern management, the uniqueness of products, services, technologies and processes as well as by the internationalization of the corporate structure. Avio’s corporate governance also ensures fairness, transparency and strict attention to compliance with internal rules and laws in force at all levels of the organization.

AVIO'S BOARD OF DIRECTORS

Roberto ItaliaChairman
Giulio RanzoCEO
Milena LerarioDirectos
Giovanni Gorno TempiniIndependent director
Donatella SciutoIndependent director
Letizia ColucciDirector
Elena PisoneroIndependent director
Raffaele CappielloIndependent director
Donatella IsaiaIndependent director
Marcella LogliIndependent director

Avio's board of statutory auditors

Vito Di BattistaPresident of the Board
Mario Matteo BussoAuditor
Michela ZemeAuditor
Sara FornasieroSubstitute auditor
Roberto CassaderSubstitute auditor

AVIO's External auditors

Deloitte & Touche S.p.A.External auditor

AVIO's Supervisory body

Alessandro De NicolaPresident
Giorgio Martellino-
Raoul Francesco Vitulo-

AVIO's Top Management

Giulio RanzoCEO
Francesco De LorenzoCommunications & External Relations
Roberto CarassaiFinancial Officer
Giorgio MartellinoLegal Officer
Stefano StefanileInstitutional Relations
Stefano BottaroHuman Resources Officer
Marco De LucaStrategy Officer
Rosario EspositoOperating Officer
Ettore ScardecchiaEngineering Officer
Angela NataleQuality Officer
Marco BiagioniProgram Officer

Corporate governance

Official documents

Avio’s corporate governance system gives a central role to the Board of Directors and the Committees. The corporate governance structure of Avio is consistent with the company’s goals. Avio’s governance is inspired by modern management, the uniqueness of products, services, technologies and processes as well as by the internationalization of the corporate structure. Avio’s corporate governance also ensures fairness, transparency and strict attention to compliance with internal rules and laws in force at all levels of the organization.

Corporate documents
Code for handling inside information

Set of rules and regulations to deal with Avio’s inside information for insiders in compliance with the prescriptions of the overseeing market authorities

Internal dealing code

Set of rules and regulations intended to provide guidance to insiders to deal with Avio’s shares in compliance with the applicable laws.

Transactions with Related Parties

Rules and information related to how Avio deals with Related Parties as defined and requested by the applicable laws.

Internal Control System

To respond effectively to the evolution of the regulation framework across national and international markets, the Avio’s Internal Control System is monitored through the adoption of codes, principles and procedures that provide discipline to Avio’s activities.
Avio and its departments regularly undergo self-assessments as well as independent internal audits.

Avio Codes

The Code of Ethics is a document approved by the Board of Directors of Avio S.p.A, applicable to the entire Avio Group, which defines the principles of conduct in business as well as the commitments and responsibilities of the Group.
This Code constitutes the Avio Group's program to ensure effective prevention and detection of violations of laws and regulatory provisions applicable to its activities.
The Supplier Code of Conduct is a document approved by the Board of Directors with a favorable opinion from the Sustainability Committee, applicable to the entire Supply Chain of the Group.
The purpose of this Code is to integrate the Sustainability Policy throughout the Supply Chain, in line with the objectives and the corporate Sustainability Plan.

Compliance Program as Legislative Decree n. 231/2001

Legislative Decree No. 231/2001 introduced for the first time in Italian law the concept of administrative responsibility for Italian companies relating to criminal offences committed in the Board’s interest in Italy or abroad:

  1. By individuals having a representative, financial or managerial position within the organization or within a business unit linked to the organization, although independent from a financial and functional point of view;
  2. By individuals who de facto manage and control the organization;
  3. By individuals subject to the management or supervision by one of the subjects mentioned above.

This responsibility is added to that of the individual person who has committed the material offence.
Compliance Officer in Avio: Giorgio Martellino

Anti-Corruption Code
Whistleblowing procedure

Avio has activated, in compliance with the provisions of the Whistleblowing Decree (Legislative Decree 24/2023), the following internal reporting channel: https://areariservata.mygovernance.it/#!/WB/avio. This channel allows the submission of written reports in electronic format and ensures the confidentiality of the reporter's identity, the individuals involved, and anyone mentioned in the report, as well as the content of the report and its accompanying documentation, through the use of encryption tools.

For further details, please refer to the attached Procedure.

Engagement Policy
Diversity Policy

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where we are

avio industries

Via Latina, snc (SP 600 Ariana km 5,2)
00034 Colleferro (RM) - Italia
T. +39 06 972 85111
Coordinates: 41°44'17.4"N 12°58'08.2"E
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Via Leonida Bissolati,
76 00187 Roma RM

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