Vertiv Picks Giordano Albertazzi To Succeed Rob Johnson As CEO

  • Vertiv Holdings Co VRT Chief Executive Officer Rob Johnson will retire from his position due to health reasons, effective December 31, 2022.
  • Giordano Albertazzi, currently President, Americas, will succeed Johnson as CEO and as a Director on the Board of Directors on January 1, 2023.
  • Albertazzi has been appointed into the additional role of Chief Operating Officer, effective immediately.
  • Outlook: The company expects Q3 performance at the lower end of the previous guidance range, primarily due to foreign exchange headwinds.
  • Vertiv said its Q3 preliminary order growth was 12%, adjusted for foreign exchange.
  • The company revised its Q4 adjusted operating profit guidance to $220 million - $240 million, down $22.5 million at the mid-point of the prior range.
  • Price Action: VRT shares traded higher by 2.98% at $10.01 on the last check Monday.
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