EFI Names New CEO, Fiery Becomes Independent Business
Frank Pennisi will serve as EFI's chief executive officer
Electronics For Imaging Inc. (EFI), a provider of digital industrial imaging and portfolio company of Siris Capital Group LLC, announces the appointment of Frank Pennisi, a veteran of the industrial and technology sectors, as chief executive officer.
In tandem, EFI’s Fiery business unit has 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, with EFI as an industrial inkjet provider and Fiery as a 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 to win in their independent markets while maintaining the close partnership that has contributed to the success of each business,” states Jacobson. “Operating as a standalone company will only further strengthen Fiery’s market-leading position in providing innovative DFE solutions. I am looking forward to this next chapter of growth under Frank’s leadership.”
Frank Pennisi as CEO
Pennisi comes to EFI from Orora Packaging Solutions, a provider of custom packaging solutions. While managing Orora as its president and CEO, Pennisi was an EFI customer. His experience with EFI solutions extends to the close collaboration and consulting he has done with Orora Packaging’s sister company, Orora Visual.
“As a former customer, I know that EFI’s digital industrial inkjet portfolio is unmatched in the industry,” says 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.”
Previously, Pennisi spent two decades in leadership positions at FLIR Systems (now Teledyne FLIR), Honeywell, and GE.
“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,” says 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-19 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 to operate as an independent company
As an independent company, Fiery will continue to provide 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,” states 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.”
