Updated
Updated · Bloomberg · May 7Leonardo shareholders narrowly approve Italian government board nominees
10 articles · Updated · Bloomberg · May 7
- The slate backed by Giorgia Meloni's government won 50.1% of votes, beating investor lobby Assogestioni's rival list on 49.5%, the company said.
- The unusually close result reflected strong shareholder opposition after Rome moved to oust Leonardo's chief executive.
- The vote secures the government's nominees but highlights investor unease over political intervention at the Italian defence and aerospace group.
Why did Italy’s government oust a CEO who quadrupled Leonardo's stock price with a successful high-tech strategy? As Italy tightens its grip on strategic firms, what does this CEO ouster signal to foreign investors about market freedom? Will Leonardo's new state-backed CEO scrap its profitable cyber strategy for a return to traditional arms, risking investor confidence?