Marcolin has appointed Antonio Bortuzzo to the new position of general manager of the company, reporting directly to the group's two CEOs, Cirillo and Maurizio Marcolin. Bortuzzo, who is 42 years old, has been for a long time senior partner of Ernst & Young, where he has been responsible of the strategic finance department. He had worked for Marcolin as a consultant. Meanwhile, Giovanni Marcolin, chairman of the group and father of the Marcolin brothers, has sold about e9 million worth of bonds to an investment company, Palladio, that can be converted into 5.7 million Marcolin shares, equal to 12.7 percent of its equity.