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Fs, the Government brings down the board of directors and sinks the merger with Anas

Toninelli announces that he has signed the revocation of the board of directors of FS, guilty of not having in turn dismissed the CEO Mazzoncini after the indictment for fraud - Skip the meeting of 26 July - The minister on Anas: "The decision is taken, there is no reason to keep them together”.

Fs, the Government brings down the board of directors and sinks the merger with Anas

Government coup on state railways. The Minister of Infrastructure, Danilo Toninelli, announced on Facebook that he has signed the forfeiture of the entire board of directors of Fs appointed at the end of 2017 by the Gentiloni government.

“I have just signed the forfeiture of the entire Board of FS to close with the past. We are the government of change and we believe that there is no industrial activity, especially if produced at the service of citizens, that does not have an ethical implication” the minister said.

For days now, rumors had been circulating in the corridor next release of CEO Renato Mazzoncini, but few expected the ouster of the entire board.

Mazzoncini, chosen by former Prime Minister Matteo Renzi to lead Ferrovie (we remind you that the company is 100% controlled by the MEF), was indicted last June for fraud in the context of an investigation relating to 6 million contributions from the Umbria Region to the transport company, Umbria Mobilità, (at the time the manager headed Busitalia, later absorbed by Fs).

This is what Toninelli refers to when he speaks of an "ethical aspect". Responding to some questions from journalists on what can now be defined as the former CEO of Railways, the minister added: ""We are sorry that the board of directors is entrenched by not applying the automatic forfeiture envisaged by the statute".

In fact, the indictment contrasts with the ethical clause desired by the Letta government and implemented in the by-laws (art.10) of the company. In essence, the statute provides that, in the event of indictment, the CEO must "immediately notify" the board of directors who in turn, after verifying the situation, can decide the dismissal of the director from office "for just cause , without the right to compensation for damages, unless the board of directors, within the aforementioned term of ten days, proceeds to convene the assembly, to be held within the following sixty days". The Board of Directors, which met a few days after Mazzoncini's communication of his judicial situation, rejected his revocation instead.

Among other things, the shareholders' meeting should have been held tomorrow, July 26, but, Toninelli informs us, "it will not be held".

The appointment of the new board of FS fits directly into the game on public nominations. After the choice of the heads of Cdp and while the uncertainty on Rai continues, precisely the leadership of Ferrovie could serve to rebalance the balance of power between the two majority parties. According to rumors, in fact, in pole position for the chair of CEO there should be Giuseppe Bonomi, former president of the Sea, appreciated by the Carroccio.

It seems instead the merger with Anas is increasingly in the balance, which among its creators had Mazzoncini and which was unanimously supported by the lapsed board of Fs. Over the last few days, both Deputy Prime Minister Di Maio and the owner of Transport, Toninelli, have used very harsh words against "marriage". The first spoke of "a wrong operation that must be stopped", while the second seems to have already rung the De Profundis on the whole operation: "I think the decision has been made: we still lack some scientific data, some studies by technicians, but there is no reason to keep them together".

To complete the operation, some key steps are still needed that the yellow-green government does not seem willing to complete. However, the CEO of Anas also intervened today on the issue, Victor Armani, who asked the Executive "not to destroy value".

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