Cingolani bids farewell to Leonardo: the former to a 4.5 million severance payment
The termination agreement between the manager and the group does not include non-competition obligations
by Celestina Dominelli
Roberto Cingolani officially bids farewell fromLeonardo after the government's decision not to renew him at the group's top management, and signs a termination agreement that will see him collect, by July, a severance package of 4.48 million euros corresponding to 24 months of fixed and variable short-term pay. The details of the termination of the relationship between the now former CEO and the group in Piazza Monte Grappa were made public in a statement with which the former Finmeccanica, now headed by Lorenzo Mariani, made official the farewell of the Milanese scientist.
No covenant not to compete
The amount paid to the former number one does not include sums linked to non-competition agreements that were not envisaged for Cingolani, who had taken the helm of the group in May three years ago. In the press release issued by Leonardo, it is recalled that the treatment granted to the former CEO comes after the decisions taken by the last two boards of directors and in line with the provisions of the Remuneration Policy Report, which then received the green light from the shareholders' meeting that, on 7 May, also formalised the renewal of the board of directors, which will be chaired by Francesco Macrì.
The press briefing of the past few days
As will be recalled, in recent days the former CEO - whom the group thanks, in the same note, 'for his valuable contribution to the company's growth' - had convened a press briefing to summarise the results achieved during his tenure and to comment on the latest accounts he had signed, namely the quarterly results. On that occasion, however, there was also no shortage of questions from journalists on the reasons for the changeover. On which, however, the Milanese scientist, former Minister of Ecological Transition under the Draghi government, did not want to comment. "My non-reappointment? It is not necessary to understand the reason. The institutions decide and I never contest these decisions,' the former CEO had explained.
