Gianni De Gennaro, chairman and other board of directors of Finmeccanica approved guidelines to implement new Group Organizational and Operating model.
The new model includes new perimeter operating companies, 100% owned by Finmeccanica, of the Aerospace and Defense core business.
These companies will be altered into divisions of the new Finmeccanica, which will be an operating company founded on divisions and will also maintain its role as parent company and corporate centre for those companies which are not part of the divisionalization process. The companies undergoing strategic evaluation are the Transportation sector and FATA, International Joint Ventures in Space (Thales Alenia Space and Telespazio) and in the missile sector (MBDA) and DRS Technologies (under Proxy).
The Model provides divisions equipped to manage and develop their respective businesses, technical units and centralized functions capable of maximizing coordination of divisions and to support business, and a more closely integrated governance and strategic direction, producing benefits in terms of industrial productivity, economies of scale and of boosting competitiveness. The execution of the new Model that will be completed by the end of 2015 will start in the near term by transferring the registered headquarters and offices of the CEOs of the operating companies involved to the Finmeccanica headquarters and by rationalizing international offices established in key markets.
A new analysis of International Scenarios Committee is to replace the previous Strategy Committee. The new body will be entrusted with the task of supporting the Board’s activities by providing analyses about opportunities and geopolitical risks significant in outlining the Company’s and the Group’s strategic guidelines.