Italy: Italy’s 5 Star Movement says Leonardo CEO should resign after Monte dei Paschi ruling

Italy’s ruling 5-Star Movement called on the head of defence and aerospace group Leonardo LDOF.MI to step down after he was found guilty of false accounting in his previous role as chairman of Banca Monte dei Paschi di Siena. BMPS.MI

Alessandro Profumo was one of three former Monte dei Paschi executives convicted on Thursday of not correctly booking derivative transactions which prosecutors said helped the bank hide losses in one of Italy’s biggest financial scandals.

“In light of the conviction, we expect that Alessandro Profumo will resign as CEO of Leonardo in the interests of the company,” a message on a 5-Star twitter account said.

The original full article can be found at reuters.com

(Photo: Mariano Rosales)

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