MV Agusta announced a change in its executive as the company considers going public with an initial public offering.

The Italian manufacturer introduced Giorgio Girelli as its new executive vice president. Girelli’s appointment comes a day after CycleWorld reports MV Agusta has opted not to renew the contract of Chief Executive Officer Massimo Bordi.

Bordi is an engineer and an industry veteran, most notably with Ducati where he helped develop the Testastretta engine and the iconic Ducati Monster. After the passing of MV Agusta’s president Claudio Castiglioni, the company’s leadership fell to Bordi and Castiglioni’s son, Giovanni.

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