Borgo steps down as Yokohama Europe CEO amidst wider leadership reshuffle

Gregorio Borgo has stepped down as chief executive officer (CEO) of Yokohama Europe GmbH. Effective 15 October 2023, Giovanni Angelo Ponzoni has been appointed as the new CEO. However, Borgo, who was both president and CEO of Yokohama Europe GmbH until the announcement, will “remain within the Yokohama family as consultant and acting president as of 1 January 2024”. Yokohama also announced the departure of Aleksandar Gramatikov, executive vice-president sales, marketing and supply chain of Yokohama Europe GmbH.

Borgo was appointed as Yokohama Europe president in October 2021. During the last two years he has overseen significant transformation across the various European distributors that make up the wider Yokohama Europe operation and planned a roadmap towards a European tyre factory. Since Borgo has been leading those moves and has been executing them in partnership with Gramatikov, questions will be raised about the future of the company’s European factory plans. However, Yokohama insiders sought to emphasise ongoing business continuity, telling Tyres & Accessories there will be no discernible changes at an operational level.

Angelo Ponzoni has been appointed as the new CEO (Photo: Yokohama)

Specifically, in answer to our questions Adeel Tariq, vice president HR and general affairs Europe, commented: “As announced, Mr. Borgo will stay in our organization at Yokohama Europe acting as president from 1 January 2024. The only change is referring to his employment situation, he will change from being employee to consultant from January 2024 and will not be…director of board from January 2024.”

In response to T&A’s questions relating to the plans for a European factory, Tariq answered: “At the current stage we cannot comment on the plans for a European Factory, the plans are still there as announced during our YX2023 Project plan for Yokohama Europe. Further and clear information about the factory will be shared next year in 2024.”

New CEO Giovanni Angelo Ponzoni brings significant tyre industry experience into the new leadership role. According to an official statement marking his appointment, Ponzoni is known for several leading positions at Pirelli and is expected to “play a pivotal role in leading Yokohama in Europe into the next phase of its growth and development.”

Meanwhile, Mr Soichiro Yamaji, who was executive vice-president and CFO is also leaving Yokohama Europe, both with effect from 31 December 2023. Yamaji will be transferred to the Yokohama USA subsidiary as executive from 1 January 2024.

Takashi Maki will be transferred from The Yokohama Rubber Co., Ltd. to Europe as the new executive vice-president CFO, effective from 1 November 2023. That move comes together with Satoshi Miyajima who will take over the role as vice-president supply chain import operations.

As we previously reported, the current chairman of Yokohama Europe GmbH, Hiroyuki Shioiri, has been assigned to Head of Corporate Planning Division at The Yokohama Rubber Co., Ltd. in Japan.

Yokohama executives expressed their “deep gratitude to the departing colleagues for their unwavering commitment to the company and accomplishments within their dedicated roles. Their contributions have been instrumental in the company’s growth and success.

“The entire team at Yokohama Europe GmbH looks forward to working with the new employees and continuing to achieve new milestones in the tyre industry. We are confident that under the new leadership, the company will reach new heights of prosperity.”