Written by Crispan Palmer
ROME (Reuters) – Entrepreneur Roberto Colagno, chairman and CEO of scooter maker Piaggio and one of Italy’s best-known dealmakers, has died, investment firm IMMSI said on Saturday.
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However, like many before him, he failed to turn the company around, and it eventually closed. He was brought to trial last year, along with 13 other defendants, for fraudulent bankruptcy at the airline. He denied any wrongdoing.
The case has not yet reached court.
Colano started his career at auto parts manufacturer Fiam, and then joined one of the Italian business giants, Carlo De Benedetti. They founded a financing company, Sogefi, which bought Fiamm from its British owner and turned it into one of Europe’s most successful auto parts suppliers.
De Benedetti later asked Colaninno to take charge of his struggling Olivetti company. Colano gave up the company’s loss-making computer unit and focused on the telephone business—which he later used as a vehicle to launch the Telecom Italia bid.
He is survived by two sons, Mateo and Michel, and his wife, Aurita.
(Reporting by Crispian Palmer; Editing by David Holmes)
