Fincantieri S.p.A. 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, the company said in its press release.
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.
CDP holds 100% of Fintecna S.p.A, the controlling shareholder of Fincantieri.