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Italy Plans to Appoint New CEO for Leonardo SpA This Week After Negotiations
Italy is expected to name a replacement for Leonardo SpA Chief Executive Officer Roberto Cingolani as soon as this week, according to people familiar with the matter. The appointment follows weeks of negotiations over the position at the state-controlled defense and aerospace company. The change comes amid ongoing corporate governance processes in Italy's key industrial sectors.
Apr 6, 7:31 AM·2m read1 source
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Italy's government is set to appoint a new chief executive officer for Leonardo SpA, replacing Roberto Cingolani, as early as this week. The decision stems from discussions involving stakeholders in the state-controlled company, which specializes in defense, aerospace, and security technologies.
Leonardo SpA, formerly known as Finmeccanica, is one of Italy's largest industrial groups, with significant government ownership.
The appointment process has involved weeks of negotiations, as reported by people familiar with the discussions. These talks have focused on selecting a candidate to lead the company through its strategic initiatives in a competitive global market. Roberto Cingolani, who has served as CEO since 2021, oversaw expansions in electronics and cybersecurity divisions during his tenure.
Leonardo SpA operates in multiple sectors, including helicopters, aircraft, and electronics, with a workforce of over 50,000 employees worldwide. The Italian government holds a majority stake, approximately 30.2%, making executive appointments a matter of national interest. Previous CEO transitions have often aligned with government priorities in defense spending and industrial policy.
The stakes of this leadership change include maintaining Leonardo's position in international contracts, such as those with NATO allies and the European Union. Affected parties encompass shareholders, employees, and international partners who rely on the company's supply chains.
Cingolani's departure concludes a period marked by efforts to integrate advanced technologies like AI and drones into defense systems.
Following the announcement, the new CEO will assume responsibilities for guiding Leonardo's annual strategy and financial reporting. The company reported revenues of about 15 billion euros in 2023, with ongoing projects in sustainable aviation and space exploration.
