01.06.2021

Paolo Balugani leaves Palfinger

We can now confirm that Paolo Balugani, chief executive and one time owner of Palfinger Platforms Italy, is leaving the company.

In a telephone conversation he said: “I have decided to bring my time as a top manager with the company and within the Palfinger group to an end in order to seek out new opportunities and technological challenges.”
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Paolo Balugani

He also made it clear that this decision was a difficult one which has had an emotional impact. “I came to Palfinger in 2013, when I joined forces with this amazing European producer to found the joint venture from which Palfinger Platform Italy originated. I embraced my role as the company’s chief executive with enthusiasm, and served as head of development, also taking charge of the launch of the models and the global market strategy for the Italian built product line – Palfinger’s 3.5 tonne truck mounts and spider lifts, along with special application machines. I have always seen myself as a passionate entrepreneur who always likes to be on the move.”

In 2019 Balugani was appointed global product line leader for access platforms, in addition to his job running the Italian business - see: Strategic development appointment at Palfinger Platforms.

“In my work over the past 20 months, I have pursued an objective to which I’ve always given top priority. I wanted to create a global organisation focused on product development and innovation, and this mission has absorbed all my energy, as it formed the heart of my new managerial task. The overall aim was to coordinate and integrate precious resources and engineering ideas of great strategic importance and value. The approach I believe I will leave to my outstanding team will certainly give the Palfinger platforms division the potential for amazing growth in the coming years.”

“Finally, I would like to express my thanks to the Palfinger family and the board for their confidence in me and for the years of good work we have done together.”

Vertikal Comment

This is a sad loss for Palfinger, Paolo Balugani has lasted longer and fitted in far better than we might have imagined when he accepted Palfinger’s bid to acquire a majority controlling stake in his Sky Aces in February 2013 – just two years after he started the business. It can be very difficult for an entrepreneur like him to fit into a global corporate environment but he has excelled and benefited from the resources offered by the group. Times change however as to chief executives, all of which requires key managers to adapt to new regimes etc... This can be particularly hard for someone not based at global headquarters.

The key thing now is what will he do next?