The one made for Il Sole 24 Ore by the new designated president of Confindustria, Vincenzo Boccia, is a half-turn. The torpedoing of CEO Donatella Treu, in office for 6 years, in which she has accumulated a record loss of over 220 million euros despite the sale of important assets, is certainly the most important and most novel act.
The Treu disaster, which in its career had never managed a newspaper of the importance of the Sole 24 Ore and which in a few years managed to transform a goose that lays golden eggs into an authentic black hole, was there for all to see and above all of the shareholders who have seen the stock plummet on the Stock Exchange, which compared to the 5,75 euro per share of the placement at the end of 2007 is now worth only 0,506 per share, with a capitalization that has dropped to just 22 million euro and is not only lower than that dell'Espresso and Rcs but also to that of Caltagirore Editore, Poligrafici Editoriale and Class Editore.
Of course, the responsibilities for the decline of the Sun do not lie solely with the Treu but primarily invest the shareholder Confindustria which nominated it (under the presidency of Emma Marcegaglia, who is now one of Boccia's sponsors) and confirmed over the years despite the bad results, but you certainly put a lot of your own into it.
It will now be interesting to see who will choose Boccia instead of the Treu and if the mission of the new number one of the Confindustria publishing house will also include greater attention to the quality of journalistic products. During the campaign for the new presidency of Confindustria, voices of indignation were rightly raised against the vulgarity of a program like "la Zanzara" which has been on air for years on Radio 24 and which, in spite of the ratings it gets, is a daily insult to the tradition and coat of arms of a brand like that of the Sun: it would be a nice gesture to radically change its management and address.
For now, the renewal of Il Sole has stopped halfway through: Boccia did not feel like canceling the medieval liturgies in force in Confindustria and which lead past presidents to always have a job and so Giorgio Squinzi will enter the new board of directors of Il Sole which will be elected by the shareholders' meeting at the end of the month and is in pole position to become the new president of the publishing company, even if in his long entrepreneurial career he has dealt with a jewel like his Mapei, with football and cycling clubs, but it does not appear that he ever dealt with newspapers.
