Ita Airways: the board of directors removes the powers of the president Altavilla, they pass to the CEO Lazzerini

Ita Airways: the board of directors removes the powers of the president Altavilla, they pass to the CEO Lazzerini


The board of directors of Ita Airways voted to revoke the operational powers of the executive chairman Alfredo Altavilla and assigned them to the managing director Fabio Lazzerini. A move that certifies the break between the Treasury, 100% shareholder of the carrier, and the manager. In particular, the Ministry of Economy allegedly accused the president of Ita of having left the Certares fund out of the data room for the privatization of the airline.

To the letter sent by the ministry, Altavilla had replied explaining that there had been no exclusion, simply the data room had not been opened to Delta and Air France as competitors of Ita, but also because at the end of September they had not yet identified an advisor.

A defense justified by the need not to provide sensitive information to direct competitors of the company which - however - the Ministry of Economy has interpreted as an obstacle to the privatization of the group.

Or rather, an obstacle to the consortium, the one formed by Certares with Delta and Air France-KLM, which presented the "ferto offer deemed more in line with the objectives set by the Prime Ministerial Decree of 11 February last, namely the enhancement of a shareholding in the State and the industrial and employment development of Ita ».

Now the operational powers will all pass to the CEO Fabio Lazzerini who with the Americans of the fund shows that he has already built a good feeling. To the point that he could be confirmed in the role of company manager even after the conclusion of the negotiations.

During the meeting of the Board of Directors, Altavilla defended himself by arguing that the board members could not vote on the withdrawal of proxies because the point was not on the agenda of the session, but the 6 board members elected by the ministry show a favorable opinion. veritate by Professor Andrea Zoppini who maintains the legitimacy of the vote.

Also because in the September letter sent by the Mef to Altavilla and for information to the entire board of directors and to the board of mayors of Ita, the directors are in fact called to exercise their right and duty to control the situation: "For the above - reads - this company is invited to immediately rectify the information provided to the aforementioned consortium, given the responsibility of the corporate bodies towards the public shareholder, the company and the stakeholders ". Translated, it is also up to the directors to verify whether Ita is cooperating loyally with the public shareholder in the relationship with aspiring buyers.



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