It is with great sadness that the Board of directors of Italtile (JSE:ITE) Ltd ("the Board") announces the untimely death of Mr Gianpaolo Ravazzotti, Chief Executive Officer of the Group, and eight of his colleagues and business partners, namely Ms Gia Celori (Italtile Ltd), Ms Marilize Compion (Italtile Ltd), Mr Sava Di Bella (Prima Bella Bathroom Accessories), Mr Simon Hirschberg (Grainwave Pty Ltd), Mr Jody Jansen van Rensburg (CTM Alberton), Ms Aletsia Krause (Italtile Ltd), Ms Bronwyn Parsons (Pilot, Italtile Ltd), and Ms Alison van Staden (Co-pilot).
Gianpaolo Ravazzotti and his colleagues tragically passed away in an aeroplane accident on Tuesday, 08 February 2011. The wreckage of the aircraft has been located in the Robberg area and the bodies of all of the passengers have been found. A full investigation is underway to determine the cause of the crash.
Chief Financial Officer, Mr Peter Swatton commented, “On behalf of the Board, I express my heartfelt sympathy and condolences to the Chairman of the Group, Mr Gianni Ravazzotti, his wife Annabel and their daughters and Gianpaolo’s wife, Vanessa and their children, as well as the families of all of the deceased. The Group will ensure that every effort is made to provide the counselling and support required by those affected by this tragedy."
The Board will announce its succession plans in due course.