Belardi and Papetti leave Clessidra

According to a source familiar with the situation, Belardi decided to retire from his position. He had worked as an operating partner, COO and board member at Clessidra since the firm's foundation in 2003. Prior to the role, Belardi worked as senior manager at management consulting firm Accenture.

Papetti joined Clessidra in 2003. Before joining the Milanese GP, Papetti was a partner at Arca Impresa Gestioni.

The two departures follow the death of Clessidra founder and key-man Claudio Sposito in January 2016. The event sparked negotiations over the purchase of the Sposito family's majority stake in the firm. Talks came to an end when Clessidra CEO Francesco Trapani decided to abandon his plan to purchase a majority stake.

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