ROME (Reuters) - The board of Finmeccanica could broaden the powers of the defence group's chief financial officer after its chief executive was arrested on Tuesday, sources close to the matter said.
Italian police arrested Chief Executive Giuseppe Orsi earlier on Tuesday in a corruption probe centred on the sale of helicopters to the Indian government.
The government, which is the largest shareholder in Finmeccanica, is seeking a temporary solution to allow the company to function normally, the sources said. Italy is due to hold a general election on February 24-25.
One of the solutions under discussion would be for the Treasury to appoint senior board member Guido Venturoni as deputy chairman while giving Alessandro Pansa, the chief financial executive, wider powers.
Pansa is also managing director of Finmeccanica.
(Reporting By Paolo Biondi, writing by Stephen Jewkes)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app