State-Controlled Defense Giant Sees CEO Replacement Amid Growth
The Italian government has announced plans to replace the CEO of state-controlled defense giant Leonardo, Roberto Cingolani, despite the company’s significant growth under his leadership. Lorenzo Mariani, formerly of MBDA Italia, has been nominated as the new head, with the selection to be confirmed at Leonardo’s next shareholders’ meeting in early May. The move has been criticized by some as politically driven interference, but an expert notes that the Italian government periodically renews the boards of major state-controlled firms. The decision was first reported by Breaking Defense.