MV Agusta secures funding for five years
M
V Agusta's financial future has
been secured for the next
five years, following a cash injec-
tion from the Sardarov family.
Russian Timur Sardarov be-
came Chairman of the Board
and CEO of MV Agusta back in
December 2018, and has gradu-
ally changed the management
over the previous 11 months, with
former CEO, Giovanni Castiglioni,
now shifted further away from top
management into an advisory role.
"Over the next five years, MV
Agusta's attention will be focused
on developing the sales and
service network, while invest-
ing in product development and
maintaining its efforts in digitaliza-
tion and technological innova-
tion," said Sardarov. "We are
committed to delivering the best
products and continue to be a
benchmark in motorcycle industry
in quality, design and technology.
Finally MV Agusta has all the tools
to do so."
"Together with the manage-
ment, we are working diligently
to execute the business plan and
achieve our objectives which will
require an increase of personnel
and dedication from all at every
level of the company. This will
also positively impact the local
community in terms of employ-
ment and benefit the Varese-area
related industries."
The new-look management
includes financial officer Paolo
Bettin as CFO and the Massimo
Bordi—father of the four-valve Des-
moquattro Ducati motor—who has
previously worked as the General
Manager of MV Agusta and Cagiva
during the Claudio Castiglioni
(Giovanni's late father) years.
MV's new-look manage-
ment has made it a priority to
increase its dealer and support
presence in the North Ameri-
can market, once considered
a lynchpin to the company's
financial success. CN
IN
THE
WIND
P24
The Russian grip on
MV Agusta tightens
as the CEO's family
injects capital into the
legendary Italian brand.
