The Fiocchi Group, a manufacturer of small-caliber ammunition, which is majority-owned by the industrial-technology group CSG, has a new CEO. David Štěpán, CSG's Investment Director for Foreign Projects, who temporarily managed the Fiocchi Group in the first year after the acquisition, is being replaced by Paolo Salvato. David Štěpán will continue to serve as the CEO of the CSG Ammo+ division and in the next period he will focus on completing the acquisition of the ammunition division of Sporting Products of the American company Vista Outdoor.

Experienced manager Paolo Salvato joins Fiocchi Group from Leonardo where he managed strategic innovation projects. He also worked for Thales Group in charge of the Italian operations as CEO of Thales Italia, and vice president for international business development at the Paris headquarter. Paolo is a graduate of the University Federico II of Naples and holds a MasterDegree from the University of Turin he also studied at the Institute for Advanced Defence Studies (IASD), the highest joint educational institution in the Italian defense sector.

"I am thrilled to be joining such an important company as Fiocchi. This brand is synonymous with high-quality small-caliber ammunition and I am glad that I will be entrusted with its further development. There are a lot of challenges and opportunities ahead of our team. Whether it is a further growth in all our market segments and geographies, or a closer integration of the British company Lyalvale Express and Bologna's Baschieri & Pellagri into the Fiocchi Group, a lot of value to be further generated," said Paolo Salvato.

"I spent the first year at Fiocchi after the completion of the acquisition by CSG and my presence, whether in Italy or the USA, was essential from the group's point of view. Now I have to return to the divisional level and devote myself to managing the entire division, which is why I am stepping down as CEO Fiocchi. I would like to thank my colleagues at Fiocchi for their excellent cooperation and I believe that my successor, Paolo Salvato, is the ideal choice for Fiocchi," said David Štěpán.

In the coming months, David Štěpán will focus primarily on the completion of the acquisition of the Sporting Products division of the American company Vista Outdoor in the coming months, as the Investment Director for CSG's foreign projects and in particular the Director of the CSG Ammo+ Division. The contract to buy the largest American manufacturer of small-caliber ammunition, which changed its name to Kinetic Group last year, was signed by CSG in mid-October last year.

About Fiocchi Group

Fiocchi Group is a major global manufacturer of small calibre ammunition based in Italy, which owns a comprehensive range of global brands: Fiocchi Munizioni, Baschieri & Pellagri and Lyalvale Express. Two production plants are operated in the United States of America by the subsidiary Fiocchi USA. Fiocchi Group produces ammunition for hunting and sport shooting (the so-called leisure segment) and, to a lesser extent, for security forces. Within the CSG Group, the Fiocchi Group is organizationally incorporated into the CSG Ammo+ division.

About CSG Group

The global industrial-technology group CSG, owned by Czech entrepreneur Michal Strnad, has key manufacturing plants in the Czech Republic, Slovakia, Spain, Italy, India, Great Britain and the USA and exports its products all over the world. CSG continuously invests in the development of its companies and at the same time expands in its core businesses. The group includes, for example, the Czech car manufacturer Tatra Trucks, the world's leading manufacturer of small-calibre ammunition Fiocchi and the Czech radar manufacturer Eldis. More than 10,000 employees work in the companies integrated into the CSG Group and in the linked companies. In 2022, the group's consolidated revenues reached CZK 25 billion. The main fields of CSG are engineering, automotive, railway, aerospace, defense industry and production of small-caliber ammunition. Thanks to its strong pro-export orientation, CSG products can be found on all continents.