Leonardo, employee share ownership plan
The defence giant launches a voluntary share ownership plan. Group employees will get one free share for every three purchased
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Key points
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Leonardo is preparing to launch a widespread shareholding plan to allow employees to buy group shares on favourable terms, also benefiting from tax advantages. The Italian defence giant, led by Roberto Cingolani, has also put on track a staff increase programme that envisages six to seven thousand new hires between now and 2028. The company's board of directors will submit the widespread shareholding plan, christened Wibe (We believe in Leonardo), to the shareholders' meeting on 26 May for approval.
'We have presented to the market,' says Antonio Liotti, chief people & organisation officer of Leonardo, 'a challenging update of our ambitious industrial plan, at the heart of which are the people of Leonardo, who are called upon to make a decisive contribution to the achievement of the objectives; and to whom we want, through Wibe, to offer the opportunity to actively participate and directly benefit from the creation of value that is inherent in our challenges.
Voluntary participation up to 2,000 euro
.Participation is voluntary, with a minimum investment of EUR 200 and a maximum of EUR 2,000. To those who adhere, Leonardo will assign one free share (currently worth around EUR 48) for every three purchased, and four additional free shares on first participation. The shares will have to be held for three years, also in order - explains Liotti - to enjoy certain tax benefits for the shares assigned free of charge. Those who choose to participate will also be entitled to any annual dividends. The operating costs will be borne by Leonardo, who will open a securities account in the name and on behalf of the employee with a financial operator.
'Wibe,' emphasises Liotti, 'envisages three assignment cycles (2025, 2026, 2027, ed.). It is, in short, a long-term investment by Leonardo for our employees, who will be even more incentivised and empowered to achieve the targets set out in the industrial plan, because this will also translate into a positive return on their investment'.
The plan will be open to all holders of a permanent employment relationship with Leonardo and its Italian subsidiaries. In order to guarantee greater flexibility, each employee in Italy, each year, will be able to choose whether to join by converting the result/target bonus into welfare, to be allocated in whole or in part to the purchase of shares (with the additional benefit of tax relief for welfare), or to ask for a deduction on the pay slip.
