EFI appoints Frank Pennisi as chief executive officer

EFI to separate Fiery into independent company

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EFI appoints Frank Pennisi as chief executive officer
EFI appoints Frank Pennisi as chief executive officer

Electronics For Imaging (EFI), a global name in digital industrial imaging and a portfolio company of Siris Capital Group (Siris) on 25 January 2023 announced the appointment of Frank Pennisi, a veteran in the industrial and technology sectors, as chief executive officer. EFI’s Fiery business unit has also been separated as an independent company that will remain wholly owned by Siris. 

As separate companies, EFI and Fiery will have distinct areas of strategic focus that will enable them to serve their customers better and grow over the long-term, with EFI as an industrial inkjet leader and Fiery as the leading digital front end (DFE) provider. Jeff Jacobson, a 35-year veteran of the digital imaging sector who led EFI as CEO following its 2019 take-private by Siris, will remain executive chairman of each business.

“This realignment positions both EFI, now solely focused on digital inkjet for industrial applications, and Fiery, the leading global DFE provider, to win in their independent markets while maintaining the close partnership that has contributed to the success of each business. Digital imaging would not be where it is today without Fiery. Operating as a standalone company will only further strengthen Fiery’s market-leading position in providing innovative DFE solutions. Similarly, no company in the industry can match the depth and breadth of EFI’s industrial inkjet portfolio and I am looking forward to this next chapter of growth under Frank’s leadership,” said Jacobson.

EFI as an industrial inkjet pure-play

Headquartered in Londonderry, EFI will be solely focused on driving the analog-to-digital transition across the packaging and corrugated, display graphics, textile, and building materials/décor end-markets for industrial inkjet.

Pennisi comes to EFI from Orora Packaging Solutions, a provider of custom packaging solutions with an emphasis on corrugated. While managing Orora as its president and CEO, Pennisi was an EFI customer, using EFI’s Nozomi single-pass inkjet, super-high-speed digital printer. His experience with EFI solutions extends to the close collaboration and consulting he has done with Orora’s sister company, Orora Visual – a display graphics provider that is among the largest North American users of EFI VUTEk display graphics and EFI Reggiani industrial textile digital printers. Previously, Pennisi spent two decades in leadership positions at FLIR Systems (now Teledyne FLIR), Honeywell, and GE. 

“As a former customer, I know that EFI’s digital industrial inkjet portfolio is unmatched in the industry,” said Pennisi. “The company’s suite of equipment, inks, and intelligent service positions it to address its customers’ most critical needs. I am thrilled to be joining EFI at this pivotal moment as the industry transitions toward digital inkjet.”

“I am excited that Frank shares our enthusiasm about the possibilities for EFI as an industrial inkjet leader and will bring his leadership and unique customer perspective to the Company,” said Tyler Sipprelle, Partner at Siris. “Jeff’s leadership has been pivotal since Siris’ acquisition of EFI, through the first chapter of transformation and the challenges of the Covid pandemic, and he will continue to play a critical role moving forward as EFI’s executive chairman. With Frank, Jeff, and all the passionate and committed EFI team members, I am confident we have the best possible organization to continue to transform the industrial imaging industry.”

Fiery as independent company driving digital print innovation

As an independent company, the Fiery business will continue to provide industry-leading DFE technology for digital production and industrial printing. Toby Weiss, long-time chief operating officer and general manager of Fiery, will continue to lead the business as CEO of Fiery.

“Fiery will remain focused on working closely with our OEM partners, including the EFI Inkjet business, to continue developing cutting edge technology that drives the next generation of automation, accuracy, and profit potential in digital printing,” said Mr. Weiss. “We look forward to accelerating our investment as a standalone company, while driving our expanding product portfolio, incorporating world-class color algorithms, and developing advanced cloud technology.”

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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