The president of Il Sole 24 Ore, Giorgio Squinzi, resigned this morning together with four other directors from the board of directors of the publishing company that publishes the economic journal of Confindustria after yesterday's stormy top management meeting which brought to light a new monstrous loss of 49,8 million in the first six months of 2016 which bring the red in recent years to over 200 million.
Together with Squinzi, who had appointed himself president of Il Sole in the last months of his presidency in Confindustria, the directors Carlo Pesenti, Claudia Parzani, Livia Pomodoro and Mauro Chiassarini resigned.
This is how 5 of the 11 directors of the Sole board of directors leave, which it will be up to an extraordinary meeting to renew.
The resignation should be considered as a sign of open dissent towards the line of rigor and maximum transparency represented by CEO Gabriele Del Torchio, supported by Consob and supported by the president of Confindustria, Vincenzo Boccia.
Faced with the seriousness of the accounts, which call into question the very continuity of the company after the disastrous management of the former CEO Donatella Treu and which risk leading the newspaper to bankruptcy in the absence of significant capital injections, the shareholder Confindustria expressed, through Boccia, his willingness "to positively evaluate a possible capital increase", probably through the participation of the subsidiary Luiss.
However, the situation in Sole and Confindustria remains tense and other twists and turns are not excluded in the coming days.
