Piaggio’s Paolo Timoni Honored by IACC

Top-Selling Scooters

The Italy-America Chamber of Commerce (IACC) will present the 2010 Business and Culture Award to Paolo Timoni, president and CEO of Piaggio Group Americas (PGA), today during its annual Spring Luncheon at The New York Palace Hotel in New York City. PGA is a leading distributor of motor scooters and motorcycles marketed under the Aprilia, Moto Guzzi, Piaggio and Vespa brands.

Mr. Timoni oversees PGA’s two-wheel operations in North, Central and South America and has led the company to become the top-selling motor scooter manufacturer in the U.S. in terms of total value of retail products.

Since Mr. Timoni took helm at PGA in May 2005, PGA’s scooter market share has continued on a steep upward climb, increasing almost 12 percentage points from 18.5 percent in 2005 to 30.3 percent at the end of 2009. The latest data is forecasting a 33.8 percent market share for 2010. Additionally, Mr. Timoni oversaw the launch of the "Vespanomics" marketing initiatives that received attention from top-tier media outlets, earning PGA recognition from Advertising Age as one of the top 10 Marketing Innovators in the U.S.

PGA’s motorcycle story has been equally impressive with its market share almost tripling since 2005. In 2009, PGA was the only OEM with an increase of 18.1 percent for its on-highway motorcycle sales. PGA’s overall motorcycle sales increased 20.3 percent in 2008, with the dual sport and off-road segments included in the total.

"My tenure at Piaggio Group Americas has given me the opportunity to expose contemporary Italian design to scooter and motorcycle enthusiasts," said Paolo Timoni. "I am honored to be recognized for PGA’s business results due to the successful products launches of iconic Vespa scooters, historic café racer inspired Moto Guzzi motorcycles and the advanced technological motorcycle marvels like the Aprilia RSV4. I will continue to raise awareness of forward-thinking Italian designers and manufacturers."

The Spring Luncheon and Awards Ceremony is one of the IACC’s longest running annual events and serves as a forum in which the IACC acknowledges the accomplishments of an individual or entity that has excelled in the promotion of high-end Italian products in the U.S. through the presentation of its Business and Culture Award.

"The IACC Business and Culture Award is just one of the many ways we strive to promote joint economic and commercial ventures between the U.S. and Italy," says IACC President Claudio Bozzo. "By presenting this award, the IACC is able to advance the knowledge of Italy, its culture and the achievement of businessmen and women in both countries. Mr. Timoni has succeeded in making the Aprilia, Moto Guzzi, Piaggio and Vespa brands household names in the U.S. and in doing so, has contributed not only to the preeminence of PGA as the leading manufacturer of motor scooters in the U.S., but also to the overall reputation of excellence associated with many Italian products in this country."

Projected attendance at the Spring Luncheon is approximately 200 guests. The audience is comprised of IACC members, VIP representatives of the Italian business, cultural and diplomatic communities in New York, members of the foreign, local and trade press, representatives from New York City and state economic development organizations, and other members of the local business community.

For further information, please contact Amie Servino at 212-459-0044, ext. 114.