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Former Monte Paschi head frontrunner to become Leonardo CEO- source
March 16, 2017 / 8:12 PM / 9 months ago

Former Monte Paschi head frontrunner to become Leonardo CEO- source

MILAN, March 16 (Reuters) - A former chairman of Monte dei Paschi di Siena is seen as a frontrunner to take the helm of Italy’s biggest defence group Leonardo, a source with knowledge of the matter said on Thursday.

Italy’s Treasury is expected to replace the chief executives of Leonardo and Poste Italiane in a round of appointments at state-controlled firms this month, several sources told Reuters on Thursday.

One source told Reuters that Alessandro Profumo, a veteran Italian banker who stepped down as chairman of the troubled Monte dei Paschi in August 2015, was in pole position to replace Leonardo CEO Mauro Moretti, who has cut debt and streamlined the company’s business to focus on core activities.

Reporting by Stefano Bernabei; writing by Francesca Landini; Editing by Crispian Balmer

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