FINCANTIERI S.p.A. (“Fincantieri” or the “Company”) announces that, pursuant to the resolution of today's Board of Directors of Cassa depositi e prestiti S.p.A ("CDP") passed today, effective from 1 October 2014, Mr. Fabrizio Palermo will become Chief Financial Officer and Manager responsible for preparing financial reports at CDP. On the same date, therefore, Mr. Palermo will leave the positions of Deputy General Manager and Chief Financial Officer of Fincantieri while he will maintain his currently held directorships in Fincantieri’s subsidiaries, including Vard Holdings Limited, a company listed on the Singapore Stock Exchange.
Effective from 1 October 2014 Mr. Vitaliano Pappaianni, the current Corporate General Manager of Fincantieri, will also act as Chief Financial Officer on an ad interim basis. The Board of Directors of Fincantieri will appoint a new Chief Financial Officer in its upcoming meeting to be held in October 2014.
Based on the disclosures made to the Company and to the public, Messrs. Palermo and Pappaianni directly holds n. 20,000 and n. 10,000 ordinary shares of Fincantieri, respectively.
The curriculum vitae of Mr. Pappaianni is attached to this press release.
CDP holds 100% of Fintecna S.p.A, the controlling shareholder of Fincantieri.
Fincantieri’s Board of Directors and Mr. Giuseppe Bono, Chief Executive Officer, wish Mr. Palermo every success in his new role and express their appreciation for his valuable contribution to the Company over many years.
Curriculum Vitae — Vitaliano Pappaianni
Born in Rome, Italy, on 27 January, 1951, he holds a degree in Statistics and Actuarial Science, has been General Manager of Fincantieri since 2010 and is currently a member of the Board of Directors of Fincantieri Oil & Gas S.p.A. He started his career in 1977 with Alitalia in the Central Division of Finance and Control, then moved to IRI as part of the Central Inspectorate. In October 1987 he moved to Finmeccanica, where he held various positions within the group including Head of Planning and Control for Finmeccanica S.p.A. and General Manager of Ansaldo Breda. In September 2008 he joined Fincantieri as Head of the Management System Directorate within the Merchant Ships Department.