Signorini arrest: Iren falls on the stock market, then recovers. New proxies from the board of directors
The company clarifies: 'Contested offences related to previous role as Port Authority chairman. An extraordinary board strengthens the powers of president Dal Fabbro
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Iren slips on the stock market and then recovers after the judicial earthquake that shook the Liguria and Genoa regions and led to the arrest of, among others, the multi-utility's CEO Paolo Emilio Signorini.
The candidature of Signorini, appointed head of the company last August (after the then CEO Gianni Armani had moved to Enel as head of the networks), had been sponsored by Marco Bucci, mayor of Genoa, also because the Ligurian administration is the first shareholder of Iren itself, governed by a shareholders' pact that also includes the municipalities of Turin and Reggio Emilia.
In any case, the recovery on the stock exchange was also dictated by the speed with which the group chaired by Luca Dal Fabbro moved to deal with what is to all intents and purposes an emergency: a lightning-fast board of directors revoked the CEO's delegations of authority and reassigned them to Chairman Luca Dal Fabbro and Vice Chairman Moris Ferretti to ensure the smooth running of the company.
"Iren learned this morning from the press of the application of an order of precautionary measures against the CEO Paolo Signorini ordered by the Genoa Judicial Authority. The crimes contested and reported in the press release of the Public Prosecutor's Office of Genoa refer to his previous role as President of the Port Authority of the Western Ligurian Sea and therefore do not concern Iren," stressed a note of the multiutility. The group has already activated the necessary procedures to immediately guarantee full continuity of the company: among these, precisely, the redistribution of proxies.
