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The five-year plan to relaunch MV Agusta has been completed, with the anticipated acquisition of a majority stake by PIERER Mobility AG, which now holds a 50.1 percent stake in the company. This was announced in the score hours by the current CEO and President of the Varese-based manufacturer, Timur Sardarov, who announced that he had achieved his goal of strengthening the historic "Made in Schiranna" brand, consolidating its reputation after achieving financial stability through substantial improvements to processes and products and safeguarding jobs in Varese.
Indeed, thanks to the quality and reliability achieved, MV Agusta has been able to strengthen its reputation and credibility with a growing global customer base, introducing 5 new models to the market in 2023 alone and creating a new dealer network, which has further enhanced the brand's identity. Thus leading it to achieve net income for the first time in years.
Building on their achievements in recent years, the Sardarov family will continue to retain joint control and a 49.9 percent stake in the company. While Timur Sardarov will be replaced by Hubert Trunkenpolz, a member of the executive committee of PIERER Mobility AG, in the role of CEO and president, but will continue to serve the company as vice president, brand ambassador and consultant.
"MV Agusta embodies the passion and a unique sense of romance that has fascinated me, a seasoned entrepreneur, from day one. The personal challenge of leading the company out of crisis and steering it toward success through innovative business strategies, team expansion, and new product development has been met ," commented Timur Sardarov. " It is an honor to play a role in creating MV Agusta's legacy. Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformational journey we have shared. My time with MV Agusta has been a pivotal chapter in my life, full of mutual joys and challenges. As I continue in the role of vice president, I am committed to supporting the company and its continued success."
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