September 27, 2017 / 11:52 AM / a year ago

Fincantieri will have right to appoint STX's CEO and chairman - source

LYON, France (Reuters) - A compromise between Italy and France over a blocked bid for STX France by Fincantieri (FCT.MI) gives the Italian shipbuilder the right to appoint the French shipyard’s chairman and chief executive, an Italian government source said on Wednesday.

Fincantieri will have the right to appoint four of the eight members of the STX board, including the CEO and chairman, the source said, adding the chairman would have the casting vote in if the board was split over a decision.

Reporting by Giselda Vagnoni, writing by Valentina Za, editing by

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