Finmeccanica to Give Pansa More of CEO’s Powers, Repubblica Says
Finmeccanica SpA (FNC)’s board plans to transfer some powers from Chairman and Chief Executive Officer Giuseppe Orsi to Chief Operating Officer Alessandro Pansa, newspaper la Repubblica reported, without saying where it got the information.
Pansa will take responsibility for acquisitions and strategy, while Orsi, who is the target of a bribery probe, remains in control of personnel and external relations, the newspaper said.
The board will transfer the powers after a shareholder meeting today to approve a record 2.3 billion-euro ($2.9 billion) loss for last year, Repubblica said.
To contact the reporter on this story: Andrew Davis in Rome at abdavis@bloomberg.net
To contact the editor responsible for this story: Tim Quinson at tquinson@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.