ROVERETO, Italy—Dino Maggioni, CEO of Marangoni S.p.A. since October 2016, has parted ways with the company following a review by the company's board of directors of the "strategical directions" assigned to Maggioni.
Marangoni hired Maggioni nearly two years ago from Pirelli & C. S.p.A., where he was CEO of Pirelli Industrial North and South America and was involved in the launch of the Pirelli truck tire brand in North America.
"With the arrival of Dino Maggioni, our group will take advantage of his experienced leadership in the automotive sector and proved managing capabilities," Marangoni Chairman Vittorio Marangoni said at the time of his appointment.
Maggioni joined Pirelli in February 2015 from farm equipment maker CNH Industrial.
In a statement, the company said Maggioni, 50, had "chosen to leave his position" as well as all other positions within the group.
The CEO's duties have been taken on, on an interim basis, by Vittorio Marangoni and Vice President Giuseppe Marangoni.
The company thanked the former CEO for his work "in the past two years of collaboration dedicated to the group's turnaround."