FINMECCANICA: PANSA CEO WITH FULL POWERS, VENTURONI DEPUTY
THE PROHIBITION ON SHORT SELLING HAS BEEN FOLLOWED
Il general manager of Finmeccanica he has been appointed managing director and has been given “attributions and powers previously conferred on Orsi for the unified management of the company and the Group”. “Dr. Pansa – continues the note – will exercise the aforementioned powers with the title of Chief Executive Officer and General Manager. The Board also resolved to assign to the Senior Director and Lead Independent Director, Admiral Guido Venturonithe position of Vice President". "Finmeccanica is a large group and will continue to move forward" said the new vice president adding that ""There is already a president"' thus emphasizing that the position remains with Giuseppe Orsi preparing in the cell in Busto Arsizio for the interrogation on Friday. . Not for long given that the Board of Directors of Finmeccanica has also called the shareholders' meeting on 2 April in first call and on 15 in second call "in order to reinstate the composition of the board".
Thus ends another day punctuated by dramatic news.
India has suspended payments to Finmeccanica for the $750 million contract and will retire no more helicopters until the ongoing investigation is concluded. For the defense holding company, the risk of ending up on the New Delhi black list is increasingly concrete.
Meanwhile, the stock experienced another nightmarish day on the Stock Exchange: -4%. There Consob thus it was unable to renew the ban on short selling on Finmeccanica. Based on the law, the Commission could have extended the stop to speculative sales not assisted by the availability of the shares if Finmeccanica had lost more than 5%.
One more problem for the debut today of the new summit which finds itself operating in a tragic situation, between broadsides of the political world. And, what is worse, in an international context in which the image of the Bel Paese sinks. Before Ps, then Saipem and Eni, now Finmeccanica, More than an earthquake, it is a slow, unstoppable landslide that swallows up what remains of the country's reputation or, at least, of the ruling class. This is the sensation one gets from reading the Wall Street Journal, Financial Times and Herald Tribune which, in addition to reporting on the story that led to the arrest of Giuseppe Orsi, return to the assault on "Italian-style" governance, distinguished from the intrusiveness of politics. For the Lex Column of the Financial Times (headline “Mamma mia!”) “Italy's ability to maintain its stereotyped image never ceases to amaze”. The comment of the Wall Street Journal is of the same tenor, according to which Finmeccanica has every possibility of having a "politically independent leadership. Instead it remains in an unattractive mix of the worst clichés that surround the life of Italian companies”. The Herald Tribune observes that after the MPS case and that of Saipem which involved the managing director of Eni, Paolo Scaroni, there is now the risk that more and more Italians will decide "not to go to vote rather than change their mind" politics.
But the echo of our home problems this time also spreads to the East. The Times of India, the country's main newspaper, devotes two pages in addition to the first to the story, with the headline inside that "India has bought the helicopters that Obama has rejected because they are too expensive". opening headline on the judicial implications of the sale of 12 AgustaWestland (Finmeccanica) helicopters to India, but only one, The Indian Express, specifies that according to the Busto Arsizio magistrates "the former Air Force commander SP Tyagi received bribes to steer the helicopter business”. "It is the first time - underlines the newspaper - that a military officer in service is cited for alleged bribery in the acquisition of defense systems".
The stock has been on the downward path since its launch, despite the ban on short selling. The share lost 2,8% to 4,29 euros.
