February 12, 2013 / 7:18 PM / 5 years ago

Italy says working to ensure management continuity at Finmeccanica

Finmeccanica Chairman and Chief Executive Officer Giuseppe Orsi attends a convention in Rome December 18, 2012. REUTERS/Remo Casilli

ROME (Reuters) - Italy’s Economy Ministry on Tuesday said that it was working to provide management continuity and protect shareholder interest at state-owned defence group Finmeccanica SIFI.MI, according to a statement.

“The ministry is working to ensure that the company rapidly adopts a governance system that is able to guarantee the needed management continuity, the protection of shareholders’ interests - and therefore of the taxpayer - and the maximum correctness and transparency in decision making,” the statement said.

Finmeccanica Chief Executive and Chairman Giuseppe Orsi was arrested Tuesday over bribes allegedly paid to secure the sale of 12 helicopters to India when he was head of the group’s AgustaWestland unit, a judicial source with direct knowledge of the situation told Reuters. (Reporting by Steve Scherer)

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