Panini, a global payments technology provider, is pleased to announce that effective January 1, 2021, two new highly experienced executives will join the company as Chief Executive Officer and Head of International Operations, to lead its transformation and continued growth. Additionally, the company will move its headquarters in Torino to a new, modern location.
Panini just concluded an outstanding year in 2020, reporting solid growth in consolidated revenues, EBITDA and cash flow, allowing the Group to position itself as a leading player in the secure payment and identity solutions industries. This was mostly due to the tremendous success of EverneXt, its flagship intelligent scanner, in bank branch check image capture, confirmed dominant market share in the remote deposit capture (RDC) space, and initiation of the company’s first secure identity-related projects.
“In 2020, Panini worked through limitations and difficulties related to COVID-19 thanks to the relentless engagement of our entire staff,” says Vittorio Levi, Chairman, Panini. “These outstanding results position our now debt-free company to invest and grow further with expansion of secure identity solutions and a renewed effort in international markets.”
Leading these efforts as the company’s new CEO, Richard Kane comes to Panini from Canon Solutions America where he has spent the last decade successfully managing sales and operations in various executive roles. “Richard is a dynamic, high performing leader with twenty-five years of proven ability to build and manage teams that generate record sales and profits in highly competitive industries,” adds Levi. “We’re confident he’s the right person to lead Panini through our reinvention and beyond.”
Reporting to Mr. Kane and leading International Operations, another key executive will join Panini on February 1 focusing on strategic marketing, product development, and international sales. This experienced professional has an extensive track record in business development and product reinvention, and comes from a leading vendor of secure access, payments and card issuing systems, where he led global sales related to financial products and solutions.
In addition to the promising changes in leadership, Panini is also moving their corporate headquarters to a modern, open building in Torino, Italy which is better aligned with the company’s fast-paced, technology-driven culture. Located in a renovated, state-of-the-art facility in a former industrial area, the new office space supports effective collaboration thanks to modern amenities and a fresh design based on glass, bright colors and live plants. The company plans to move in April.
“Panini is experiencing significant, exciting changes, but we’d be remiss not to thank the leader who guided us to this point,” says Vittorio Levi. “The entire Panini family is beyond grateful for Michael Pratt’s unwavering dedication and commitment to our company for nearly two decades.”
Michael Pratt adds, “I am very proud of the team at Panini for all we have achieved together, and want to express my sincere gratitude to Panini’s customers, partners, and shareholders. The decision to retire was a difficult one, especially given my strong connection to the Panini family spanning decades and generations, but I leave knowing the company is poised for continued success in the next chapter of its amazing story.”