Italtile has announced the death of its CEO, Gian-Paolo Ravazzotti, and eight of his colleagues and business partners in an aeroplane accident on Tuesday.
Italtile confirmed the deaths of Gia Celori (Italtile), Marilize Compion (Italtile), Sava Di Bella (Prima Bella Bathroom Accessories), Simon Hirschberg (Grainwave), Jody Jansen van Rensburg (CTM Alberton), Aletsia Krause (Italtile) and Bronwyn Parsons (pilot, Italtile) and Alison van Staden (co-pilot).
"Gian-Paolo Ravazzotti and his colleagues tragically passed away in an aeroplane accident on Tuesday, February 08. The wreckage of the aircraft has been located in the Robberg area and the bodies of all of the passengers have been found," the group said.
Italtile said a full investigation was underway to determine the cause of the crash.
Chief financial officer Peter Swatton said: "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 Gian-Paolo'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."
By mid morning, shares in the group declined 19 cents or 4.52% to 4.01 rand on the JSE.
The board will announce its succession plans in due course. - I-Net Bridge