Nexi holds, under the lens the announcement of the change in top management with the exit of Bertoluzzo
For analysts, the appointment of Bernardo Mingrone could ensure continuity and, at the same time, put more emphasis on costs, capital allocation and more profitable activities
(Il Sole 24 Ore Radiocor) - Nexi held its ground in Piazza Affari after the announcement of a change in top management. The stock closed down 0.3%, in a list that fell 0.7%. After ten years at the helm of the company, Paolo Bertoluzzo has stepped down as CEO. His deputy, Bernardo Mingrone, who has been with the company for years, first as cfo, then as deputy general manager and ceo of Nexi Payments, will take his place. According to rumours, the manager's departure may have been hastened by the stock market's rejection of the business plan presented at the beginning of March, which was received with a drop of around 16%. Moreover, the performance was added to a downward trend that has been going on for months: since the end of August 2025, the stock has fallen by around 46%.
On the eve of the meeting, the board also accepted the resignation of three directors and appointed three new members in their place. This latest reorganisation, however, reflects the change in the shareholding structure, following the exit of the Bain, Advent and Clessidra funds from the capital of Nexi, which now has H&F (22.23%) and Cdp (19.14%) as its reference shareholders. The decision to change ceo, sources say, was taken by mutual agreement by the shareholders Cdp and H&F, and the choice was made 'quickly and in a logical and unemotional manner'. This aspect was eventually appreciated by analysts. Equita, in fact, expressed a favourable opinion of Mingrone's appointment, given that the manager knows the company well. However, the stockbroker recommended caution on Nexi's shares, i.e. it issued a 'Hold' rating with a price target just above the current price, i.e. at EUR 3.1. Intermonte also expressed its appreciation for the announcement, believing that Mingrone can take a new step in the company's strategy, without disrupting it. In practice, while guaranteeing business continuity, he could place greater emphasis on costs, capital allocation and attention to the most profitable activities, "a key element to strengthen the credibility of the equity story in the short term," commented the sim's experts, who however, while waiting for confirmations prefer to be cautious, confirming their 'Neutral' recommendation on the stock, with a price target of 3.1 euro.
