Comments
The board of Italian defence and aerospace company Finmeccanica has named Chief Operating Officer Alessandro Pansa as interim Chief Executive following the arrest of Giuseppe Orsi on suspicion of corruption.
The board had decided in an emergency meeting yesterday that Pansa would take over running the company until the next shareholders’ meeting on April 14.
Orsi, the company’s chair and CEO, was arrested on Tuesday for the alleged payment of bribe to secure a $755-million contract to sell 12 helicopters to India. Orsi, who has been jailed, denies wrongdoing. The chief of Finmeccanica’s unit AgustaWestland has been placed under house arrest.
Premier Mario Monti said on state television that he expects the Government to propose removing Orsi from his post at the shareholders’ meeting.
Shares of Finmeccanica, which is 30 per cent state-owned, dropped 4 per cent yesterday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.