ITA Airways: BoD removes delegations from Altavilla
Assigned to CEO Fabio Lazzerini
The Board of Directors of the State air carrier ITA Airways which was held this morning, as announced in recent days, has upset the balance within the company. In fact, the board took away all operational powers from the executive chairman, Alfredo Altavilla, to assign them to the CEO, Fabio Lazzerini.
This is the vote: out of the nine directors, a total of six of these (appointed directly by the Ministry of Economy and Finance, Mef) voted for the withdrawal of proxies. The resolution containing the revocation has already been sent to the dicastery. It seems that Altavilla will oppose: arguing that the point was not on the agenda of the session. But the board replied by presenting a pro-veritate opinion in favor of the jurist Andrea Zoppini, former Undersecretary of Justice of the Monti Government.
The final thrust comes after months of tensions culminating in a letter from the Mef sent to the management of ITA Airways due to a report from the US investment fund Certares, in negotiations for the purchase of the majority of the company, which had not obtained the access to all sensitive documents. At that point, the six directors were called to exercise the right and duty of control. Any inaction would have triggered disciplinary action by the ministry.
AVIONEWS - World Aeronautical Press Agency