Stagwell appoints Diego Ricchiuti as Chief Executive Officer for Investing.com’s new Italian office

LONDON and MILAN – Stagwell (NASDAQ: STGW), the marketing network known for its transformational approach, has announced the establishment of its Italian subsidiary and the immediate appointment of Diego Ricchiuti as CEO of Stagwell Italy. According to InvestingPro data, Stagwell has shown solid growth with revenues reaching $2.7 billion in the last twelve months and a healthy gross profit margin of 35%. Ricchiuti, with more than three decades of experience in advertising, will report to James Townsend, CEO of Stagwell EMEA, and will lead the company’s growth efforts in Italy, focusing on improving collaboration with clients and partners.

The launch of Stagwell in Italy follows a significant year of mergers and acquisitions for the company, which included expanding its global presence and investing in related marketing solutions. With revenue growth of almost 5% over the past twelve months and InvestingPro Analysis suggesting the company is currently undervalued, Stagwell continues its expansion strategy in Europe. This included the opening of a European headquarters in London in April 2024 and the acquisition of three European companies: UNICEPTA in Germany, Sidekick in the UK and WHAT’S NEXT PARTNERS in France.

Mark Penn, President and CEO of Stagwell, commented on the importance of the Italian market to the company’s strategic European growth and praised Ricchiuti’s network and experience as key assets for a smooth expansion into Italy. Townsend echoed that sentiment, citing Ricchiuti’s strategic experience with corporate brands as key to Italy’s strong start.

Ricchiuti expressed his enthusiasm for joining Stagwell, highlighting the company’s comprehensive capabilities in consumer research, media, data, technology, creative and digital transformation as hallmarks of an innovative player in the industry.

Stagwell prides itself on being a challenging holding company in the marketing sector, aiming to deliver creative execution for brands by combining creativity with technology. The company operates in more than 35 countries, driven by a commitment to improve marketing effectiveness and business results for clients.

This announcement is based on a press release from Stagwell Inc. For a comprehensive look at Stagwell’s financial condition, growth prospects and detailed analysis, investors can access the full Pro Research Report available at InvestingProcovering over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, Stagwell Inc. makes notable steps in its business. The company reported a 15% year-over-year increase in total revenue in the third quarter of 2024, reaching $711 million. Key revenue drivers include an 85% increase in advocacy revenue, a 25% increase in digital transformation and a 30% growth in Stagwell Marketing Cloud. Adjusted EBITDA for the quarter was $111 million.

Stagwell also announced several acquisitions. The company acquired a digital strategy and communications firm, issuing up to $4.0 million in its Class A common stock. Additionally, Stagwell acquired UNICEPTA, a global media monitoring and analytics platform, and Create. Group, a prominent digital communications group in the Middle East.

Rosenblatt Securities raised its price target on Stagwell to $9, maintaining a buy rating on the stock. These recent developments highlight Stagwell’s commitment to strategic growth and financial results.

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