Tue, Feb 26, 2013
Head Of Finmeccanica's Helicopter Division Replaced By Daniele Romiti
The bribery probe that cost Finmeccanica CEO Giuseppe Orsi his job has now led to the ouster of AgustaWestland head Bruno Spagnolini as an investigation into a deal with the Indian government deepens.
Finmeccanica has delayed the release of its financial results until April as the company continues its reorganization following the arrest of Orsi on tax evasion and fraud charges. Orsi has been implicated in a possible bribery scheme related to the sale of 12 AW101 aircraft to the government in India.
In a news release, Finmeccanica said that it has increased the number of Surveillance Body members up to a maximum of five while centralizing the Group’s Internal Audit activities, in order to exercise a more direct and incisive internal control over the correctness of the processes adopted by the Group companies. It further announced that Daniele Romiti has been nominated as Chief Executive Officer of AgustaWestland N.V., replacing Bruno Spagnolini, who is under house arrest, according to a report appearing in Bloomberg News.
The company has shared the new organizational structure of Finmeccanica S.p.A, proposed by the Chief Executive Officer and Chief Operating Officer Alessandro Pansa, aiming at its simplification to achieve the best operating efficiency, and approved the centralization of the Group’s indirect procurement, including ICT procurement and insurance policies, for these latest a competitive process will be activated.
Finmeccanica said it is determined to continue with the implementation of the restructuring plan of the Group, in particular in some areas of activity, in order to achieve a significant and sustainable recovery of profitability and the ability to generate cash flow.
More News
Hold Procedure A predetermined maneuver which keeps aircraft within a specified airspace while awaiting further clearance from air traffic control. Also used during ground operatio>[...]
Altitude Readout An aircraft’s altitude, transmitted via the Mode C transponder feature, that is visually displayed in 100-foot increments on a radar scope having readout cap>[...]
Aero Linx: European Hang Gliding and Paragliding Union (EHPU) The general aim of the EHPU is to promote and protect hang gliding and paragliding in Europe. In order to achieve this>[...]
Also: Skydio Chief, Uncle Sam Sues, Dash 7 magniX, OR UAS Accelerator US Secretary of the Air Force Frank Kendall was given a turn around the patch in the 'X-62A Variable In-flight>[...]
"The need for innovation at speed and scale is greater than ever. The X-62A VISTA is a crucial platform in our efforts to develop, test and integrate AI, as well as to establish AI>[...]