Yesterday an almost unbelievable thing happened for the Italian justice: two great untouchable boyars were convicted in court for their financial misdeeds: the second section of the court of Milan sentenced a fine of 2.5 million and a half to six years in prison each of the former top management of MPS, Alessandro Profumo (current CEO of Leonardo) and Fabrizio Viola, respectively former president and CEO, for the allegations of rigging and false corporate communications (in relation to the bank's first half-year 2015). The prosecution had asked for absolution, which was very strange, but evidently the judging panel saw it differently.
You may or may not agree with the ruling, but it exists and has, or should have, an impact on the concept of "integrity", a legacy of other times, which should distinguish a CEO of a large listed company. Unfortunately, times change and ways change and Finmeccanica Leonardo announces that Profumo will remain quietly “Until a final sentence”, so the current mandate will certainly end without problems.
Attention, we do not want to throw burdens on anyone's shoulders, but having emerged from a colossal failure as MPS was seems to have been the launch pad for a career: Profumo in a large defense conglomerate, Viola instead committed to driving BPVI to failure. when you have the right friendships the results pass into the second row, especially in Italy where the ruling classes intertwine and hybridize with each other; the TV superhost, who aa talk about things he doesn't know, is the wife of a superman. Or the talk show host is the ex-wife of the civil protection officer. Now you understand very well why "Journalism" is not indignant at certain appointments and the quality of the results is unrelated to careers. In Italy we are born, not made.
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/profumo-e-viola-condannati-a-sei-anni-ma-il-primo-resta-alla-guida-di-finmeccanica-leonardo-i-grandi-boiardi-sempre/ on Fri, 16 Oct 2020 08:50:08 +0000.