By TOM KINGTON Published: 4 May 2011 15:02
ROME - Finmeccanica confirmed the appointment of new CEO Giuseppe Orsi on May 4 and announced the responsibilities that former CEO and Chairman Pierfrancesco Guarguaglini will maintain as he moves to become chairman only.
A statement released after a shareholder meeting also announced that co-General Manager Giorgio Zappa is leaving the firm.
The statement said that Guarguaglini, as chairman, would continue to hold a series of powers, including: "Definition of overall corporate and group strategy and alliances, acquisitions and disposals, to be submitted to the Board of Directors for approval; responsibility for relations with government, public and private institutions and with the domestic and international media, in coordination with the CEO; and the execution of decisions taken by the Board of Directors."
Co-Director General Alessandro Pansa was nominated director general "with specific powers to be defined at the next meeting of the Board of Directors."
Orsi, the new CEO, has previously run AgustaWestland, the helicopter unit of state-controlled Finmeccanica.
"By mutual agreement with our major shareholder, we have looked in-house to appoint a new chief executive officer, Giuseppe Orsi, and a new chief operating officer, Alessandro Pansa," said Guarguaglini. "This was a joint decision in recognition of the work done by Finmeccanica in recent years, which has resulted in the emergence of a new generation of strong managers".
"As I have often said," he continued, "I think changes nowadays should be made seamlessly. I will continue to apply my knowledge and enthusiasm to ensure the continuing expansion of a group for which I have worked for over 40 years."
Orsi was quoted saying, "One of my first tasks, during my first 100 days of office, will be to examine the global economic situation, which is somewhat complex at present, and to look at what we can do internally to make Finmeccanica even more competitive."
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