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Board of Directors
BARBARA COMINELLI
CHAIRMAN AND EXECUTIVE DIRECTOR
MASSIMO PELLEI
EXECUTIVE DIRECTOR (CO-CEO)
Chief Commercial Officer
Graduated cum laude in Business Administration from Bocconi University; CEMS Master in International Management.
Manager with over 25 years of experience as CEO and C-Level executive in the Technology, Telecommunications, Venture Capital, and Real Estate sectors, in companies such as Microsoft, Vodafone, JLL, and Kearney, leading teams of more than 3,000 people.
An expert in digital and business transformation across both innovative and traditional industries: she has led the digital transition of major organizations, developing and implementing advanced solutions in AI, cloud, IoT, automation, and customer experience.
Named twice among the 50 Most Inspiring Women in Technology in Europe (InspiringFifty); winner of the Women Excellence Award (Il Sole 24 Ore and Financial Times); Forbes Top Italian CEOs; and Fortune Business Person of the Year.
Paolo Costa
HONORARY PRESIDENT AND DIRECTOR
Chief ESG Officer
Cofounder
MAURO MARENGO
EXECUTIVE DIRECTOR (CO-CEO)
General Manager
Director of Technology Services
Adjunct lecturer for the degree courses in Communication and for the master’s degree course in Modern Philology at the University of Pavia. Since 1998, he has focused on digital culture and new media. He is one of the founding partners of Betwyll, an innovative startup that develops technologies to support teaching.
Born in Rivoli (TO) on 8 December 1971. After graduating in Management Engineering from Turin Polytechnic in 1996, he joined Ernst&Young Consultants where he held the roles of Business Analyst and Manager and Practice Leader for ERP Implementation Projects from 1997 to 2000.
Prior to joining Spindox in 2012, he gained solid experience in the management and leadership fields at several national and international companies.
BEATRICE CAPRETTI
DIRECTOR
VALTER CONCA
INDIPENDENT DIRECTOR
She holds a bachelor’s degree in Business Economics and a master’s degree in Administration, Finance and Control from Bocconi University. She began her career in private equity in 2009 when she joined Progressio. Over time, she has taken on increasing responsibilities and now manages investor relations and fundraising. Since 2018, she has been coordinating Progressio’s sustainability (ESG) strategy. Previously, she worked as an analyst in the leverage finance team at UniCredit Market & Investment Banking (2008) and in the Financial Sponsor & Leverage Finance team at Capitalia (2007). She holds a bachelor’s degree in Business Economics and a master’s degree in Administration, Finance and Control from Bocconi University.
Valter Conca is Associate Professor in the Department of Management and Technology at Bocconi University, where he teaches CLEAM courses in Business Economics and Management (Bachelor’s degree) and Acquisition Management (Master’s degree).
At SDA Bocconi, he has been Director of the PE & Finance for Growth Observatory since 2005. He has been Director of Resource Development and a member of the school’s Management Committee, as well as Director of the Executive Master’s in Corporate Finance and Banking. He has designed and coordinated numerous courses in Corporate Finance and General Management. He has carried out extensive research and professional training for industrial groups, financial companies, industrial associations and leading institutional investors.
MASSIMO DAN
DIRECTOR
FILIPPO GAGGINI
DIRECTOR
He obtained a bachelor’s degree in Business Economics and a master’s degree in Administration, Finance and Control from Bocconi University. He joined Progressio in 2014 and is now a Partner, coordinating investment operations and contributing to the definition of growth strategies for portfolio companies, with a primary focus on the Information Technology sector.
Before joining Progressio, he worked at Klecha & Co, Lazard and KPMG.
He holds a degree in Business Economics from Bocconi University. He has been working in private equity since the mid-1990s. He started in the private equity division of Banca Commerciale Italiana and later joined the investment team of The Carlyle Group private equity fund. He then spent nine years at Investitori Associati, where he was promoted to senior partner in 2008. Prior to Progressio, in July 2011, he was a senior partner at Investindustrial and collaborated with Anglo-Saxon and Italian private equity funds, both as an originator of transactions and as a potential investor. He has completed over 30 transactions in sectors of Italian excellence.
GIONATA TEDESCHI
INDIPENDENT DIRECTOR
Gionata Tedeschi has been a consultant, manager and entrepreneur for three decades in highly innovative areas of business and business models.
A graduate cum laude from Bocconi University, he began his career in strategic consulting at McKinsey and subsequently, with a focus on innovation and market transformation, launched successful start-ups in the digital, marketing and data science fields, accompanying them on their scale-up journey. He has held various managerial and executive roles in leading service companies, including Dun & Bradstreet, Buongiorno, OctoTelematics, and Accenture, where, as Managing Director, he led the Digital Strategy practice in Europe. From 2023 to 2025, he was General Manager at Gruppo24ORE in the field of Innovation, Sustainability and Technology. In addition to dealing with M&A issues in the digital and technological field, he holds an adjunct professorship in Management for Digital Enterprise at the International Master’s in Data Science for Management at the Catholic University in Milan.
Board of Statuatory Auditors
MARCO BENVENUTO LOVATI
CHAIRMAN
FABIO MASSIMO MICALUDI
STATUATORY AUDITOR
BARBARA NEGRI
STATUATORY AUDITOR
SILVIA GIUDICI
SUPPLEMENTARY
ALESSANDRO REATO
SUPPLEMENTARY
Supervisory Board
Giuseppe Interrante
CHAIRMAN
Ferruccio Amenta
Claudia Putzulu
Auditing firm
Highlights

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Management presentation
Board of Directors
BARBARA COMINELLI
CHAIRMAN AND EXECUTIVE DIRECTOR
Graduated cum laude in Business Administration from Bocconi University; CEMS Master in International Management.
Manager with over 25 years of experience as CEO and C-Level executive in the Technology, Telecommunications, Venture Capital, and Real Estate sectors, in companies such as Microsoft, Vodafone, JLL, and Kearney, leading teams of more than 3,000 people.
An expert in digital and business transformation across both innovative and traditional industries: she has led the digital transition of major organizations, developing and implementing advanced solutions in AI, cloud, IoT, automation, and customer experience.
Named twice among the 50 Most Inspiring Women in Technology in Europe (InspiringFifty); winner of the Women Excellence Award (Il Sole 24 Ore and Financial Times); Forbes Top Italian CEOs; and Fortune Business Person of the Year.
PAOLO COSTA
HONORARY PRESIDENT AND DIRECTOR
Chief ESG Officer
Cofounder
Born in Milan on 13 October 1962, he graduated with honours in Modern Literature with a focus on philology and linguistics from the University of Pavia in 1985. For a decade he worked as a journalist (Domus, Europeo, Il Sole 24 Ore), before turning to business consulting in the field of organisational communication and information technology. After gaining experience in ICT first as an entrepreneur (Mindthegap) then as an executive (Etnoteam), he founded Spindox in 2007.
Adjunct lecturer for the degree courses in Communication and for the master’s degree course in Modern Philology at the University of Pavia. Since 1998, he has focused on digital culture and new media. He is one of the founding partners of Betwyll, an innovative startup that develops technologies to support teaching.
MAURO MARENGO
EXECUTIVE DIRECTOR (CO-CEO)
General Manager
Director of Technology Services
Born in Rivoli (TO) on 8 December 1971. After graduating in Management Engineering from Turin Polytechnic in 1996, he joined Ernst&Young Consultants where he held the roles of Business Analyst and Manager and Practice Leader for ERP Implementation Projects from 1997 to 2000.
Prior to joining Spindox in 2012, he gained solid experience in the management and leadership fields at several national and international companies.
MASSIMO PELLEI
EXECUTIVE DIRECTOR (CO-CEO)
Chief Commercial Officer
Born in Ravenna, 24 October 1974. After graduating in Electronic Engineering from the University of Pavia in 1998, he worked in consulting (Ernst&Young, Capgemini, Accenture) from 2000 until 2008, before joining Spindox.
BEATRICE CAPRETTI
DIRECTOR
VALTER CONCA
INDIPENDENT DIRECTOR
Valter Conca is Associate Professor in the Department of Management and Technology at Bocconi University, where he teaches CLEAM courses in Business Economics and Management (Bachelor’s degree) and Acquisition Management (Master’s degree).
At SDA Bocconi, he has been Director of the PE & Finance for Growth Observatory since 2005. He has been Director of Resource Development and a member of the school’s Management Committee, as well as Director of the Executive Master’s in Corporate Finance and Banking. He has designed and coordinated numerous courses in Corporate Finance and General Management. He has carried out extensive research and professional training for industrial groups, financial companies, industrial associations and leading institutional investors.
MASSIMO DAN
DIRECTOR
He obtained a bachelor’s degree in Business Economics and a master’s degree in Administration, Finance and Control from Bocconi University. He joined Progressio in 2014 and is now a Partner, coordinating investment operations and contributing to the definition of growth strategies for portfolio companies, with a primary focus on the Information Technology sector.
Before joining Progressio, he worked at Klecha & Co, Lazard and KPMG.
FILIPPO GAGGINI
DIRECTOR
He holds a degree in Business Economics from Bocconi University. He has been working in private equity since the mid-1990s. He started in the private equity division of Banca Commerciale Italiana and later joined the investment team of The Carlyle Group private equity fund. He then spent nine years at Investitori Associati, where he was promoted to senior partner in 2008. Prior to Progressio, in July 2011, he was a senior partner at Investindustrial and collaborated with Anglo-Saxon and Italian private equity funds, both as an originator of transactions and as a potential investor. He has completed over 30 transactions in sectors of Italian excellence.
GIONATA TEDESCHI
INDIPENDENT DIRECTOR
Gionata Tedeschi has been a consultant, manager and entrepreneur for three decades in highly innovative areas of business and business models.
A graduate cum laude from Bocconi University, he began his career in strategic consulting at McKinsey and subsequently, with a focus on innovation and market transformation, launched successful start-ups in the digital, marketing and data science fields, accompanying them on their scale-up journey. He has held various managerial and executive roles in leading service companies, including Dun & Bradstreet, Buongiorno, OctoTelematics, and Accenture, where, as Managing Director, he led the Digital Strategy practice in Europe. From 2023 to 2025, he was General Manager at Gruppo24ORE in the field of Innovation, Sustainability and Technology. In addition to dealing with M&A issues in the digital and technological field, he holds an adjunct professorship in Management for Digital Enterprise at the International Master’s in Data Science for Management at the Catholic University in Milan.
Board of Statuatory Auditors
MARCO BENVENUTO LOVATI
CHAIRMAN
FABIO MASSIMO MICALUDI
STATUATORY AUDITOR
BARBARA NEGRI
STATUATORY AUDITOR
SILVIA GIUDICI
SUPPLEMENTARY
ALESSANDRO REATO
SUPPLEMENTARY
Supervisory Board
Giuseppe Interrante
CHAIRMAN
Ferruccio Amenta
Claudia Putzulu
Auditing firm
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