Cisalfa Sport has appointed Maurizio Mancini as the new chief executive of Cisalfa Sport and Intersport Italia, which together form the largest network of sporting goods stores in Italy. Formerly in charge of product, he has been working for many years at the company together with his brother Vincenzo Mancini, the group's former CEO, who suddenly passed away on April 17 at the age of 65 (see SGI Europe Vol. 20 N° 13+14 of Apr. 12).

The board of directors has elected one of its members, Stefano Pochetti, as its chairman. It has also appointed Vincenzo's widow, Patrizia Caroni Mancini, as executive director. Vincenzo and Patrizia had been working together at the start of the family-owned company's development.

The board has also approved a new strategic plan for the next five years that calls for investments of €50 million intended to raise the group's annual revenues to more than €630 million by 2023, generating Ebitda of more than €50 million. Cisalfa's indebtedness, which had started to decline lately, will be eliminated.

For the financial year ended last February, the group booked Ebitda of €37.2 million on revenues of €490.3 million, up from €464 million in the previous year. Including the revenues of other retail members of Intersport Italia, which is owned by Cisalfa, the group's total sales including VAT were higher than €1.1 billion.