Italy mulling option of giving Finmeccanica CFO more powers

Published February 12, 2013

| Reuters

The board of Finmeccanica could broaden the powers of the defense group's chief financial officer after its chief executive was arrested on Tuesday, sources close to the matter said.

Italian police arrested Chief Executive Giuseppe Orsi earlier on Tuesday in a corruption probe centered on the sale of helicopters to the Indian government.

The government, which is the largest shareholder in Finmeccanica, is seeking a temporary solution to allow the company to function normally, the sources said. Italy is due to hold a general election on February 24-25.

One of the solutions under discussion would be for the Treasury to appoint senior board member Guido Venturoni as deputy chairman while giving Alessandro Pansa, the chief financial executive, wider powers.

Pansa is also managing director of Finmeccanica.

(Reporting By Paolo Biondi, writing by Stephen Jewkes)

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