Milan appointments: the future of A2a, Fiera, Atm and Sea

The awaited round of spring appointments does not only concern state-owned companies: an important round is also on the way for the Municipality of Milan, which in the coming weeks will renew the top management of the municipal companies, amid certainties and uncertainties. Among the companies whose boards are about to expire, according to current rumors, the only certainty remains confirmation at the top of the utility A2a, listed on the Stock Exchange and led by Luca Valerio Camerano, with Giovanni Valoti as president. The company is co-controlled by Palazzo Marino and Brescia, but by statute the appointment of the next president will be up to the Lombard capital.

The results speak in favor of Camerano: in the 9 months of 2019 (latest data available) A2a recorded growing revenues, EBITDA, profits and margins. For this reason, according to what Mf-Milano Finanza writes, the orientation of the shareholders would be to confirm the manager appointed even before the election of Beppe Sala, already in 2014 by the Pisapia council with the support of the Renzians. Therefore, towards the confirmation of the operational guidance of the group, also in order to guarantee greater continuity in management. More delicate is the question of the other dossiers on Mayor Sala's table, to which has been added the appointment of board for the Milan-Cortina 2026 Winter Olympics.

In addition to A2a, the other listed company whose top management is expiring is Fiera Milano: the appointment of the new board of directors is formally up to the shareholder Fondazione Fiera Milano (which holds 63,8%) which in turn reports equally to the Lombardy Region and the Municipality of Milan. Enrico Pazzali was recently appointed as head of the Foundation, who was also the managing director of the operating company in the past. On the subject of the renewal of Fiera Milano, Pazzali was interlocutory in December: on the one hand he expressed a very positive opinion on the current CEO Fabrizio Curci, but on the other he communicated that for the choice of the new management, the Foundation will resort to a headhunter.

The Atm case is also on the high seas, given that the president Luca Bianchi will leave the company to enter the board of directors of the company that will take care of the 2026 Olympics, representing the Municipality. As regards Sea, the company that manages the airports, the top management was actually renewed last year, but according to rumors the time now seems ripe for Davide Corritore, currently vice president, to replace Michaela Castelli as president: until now he was blocked by the of ineligibility, being president of MM, but from April there will no longer be this obstacle.