London, UK. Praesidiad, a global provider of integrated perimeter security systems and solutions, today announces that Michele Volpi, CEO, will be leaving the company due to family reasons. He will continue to act as Chief Executive Officer until December this year and it is currently anticipated that he will serve in an advisory capacity to the company going forward. The search for a successor is underway. In the meantime, Andrew Stevens, Non-Executive Chairman of the Company and Board of Directors has agreed to oversee Praesidiad until the search process has been completed.
Michele Volpi joined Praesidiad in 2011. During his tenure, he transformed the business into a systems and solutions provider, grew the company across end markets and geographies (including the SecureUSA and Gibraltar investments in the U.S.) and successfully executed the acquisition of Hesco, as well as the rebranding of the group as Praesidiad.
Commenting on Michele’s decision to step down, Andrew Stevens said: “I have thoroughly enjoyed working with Michele. We would like to thank him for his hard work and wish him well for the future. The company is well positioned for growth and has a compelling strategy in place that we will continue to execute upon, in conjunction with the rest of the senior leadership team.”
Andrew Burgess, Managing Director, The Carlyle Group added: “We continue to be very excited about our investment in the company and Michele has been a driving force in our success to date. He will be sorely missed, but we fully respect his family priorities right now and wish him and his family well.”
Michele Volpi added: “It has been a fantastic seven years at Praesidiad and I am extremely proud of what has been achieved. It was a difficult decision to step back from the business, but there is an excellent leadership team in place and the company’s prospects are very strong.”