October 04, 2013

Sciarrone steps down from NTV

Written by  Marco Chiandoni
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Sciarrone steps down from NTV Keith Fender

MR Giuseppe Sciarrone, CEO of Italian open-access high-speed operator Nuovo Trasporto Viaggiatori (NTV), issued his resignation on October 2. The company's steering committee has appointed its president Mr Antonello Perricone as his replacement.

Sciarrone is one of the founding fathers of NTV, the world's first open-access high-speed operator, and is the former head of the passenger division of Italian State Railways' (FS). According to local media, Sciarrone decided to step down from the company to spend more time with his family. He will retain his 1.5% shareholding in the company.

NTV began operating services between Milan, Florence, Rome and Naples on April 28 2012, and expanded to include Milan – Turin services in December. The operator reported a loss of €77m in 2012, following losses of €39m in 2011 and €20m in 2010. However, these losses are consistent with the company's business plan which states it aims to break even in the second half of 2014.

Nevertheless NTV says difficult economic circumstances in Italy have led the company to review part of its original development plans.

NTV's has forecast passenger ridership of 6 million for 2013 for a 25% share of the market.

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