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Finmeccanica Promotes Pansa to CEO After Orsi’s Arrest

Finmeccanica SpA, Italy’s biggest defense contractor, promoted Alessandro Pansa to chief executive officer to succeed Giuseppe Orsi, who was arrested two days ago on charges of corruption and tax fraud.

Pansa, 50, will continue to serve as chief operating officer, Rome-based Finmeccanica said yesterday in a statement following a board meeting. Orsi, 67, remains chairman until a shareholders meeting in April, a spokeswoman said by telephone.