Overview
- Leonardo’s state shareholder replaced Roberto Cingolani with longtime company executive Lorenzo Mariani, according to the finance ministry.
- Mariani most recently held a senior post at missile maker MBDA and previously ran sales at Leonardo, which one analyst said points to strategic continuity.
- The government owns about 30.2% of Leonardo and says it will put forward its own slate of board candidates at the upcoming shareholder meeting.
- Officials gave no public reason for the change, while sources and Italian media reported that Cingolani’s technocratic style and unilateral moves — including senior hires, cross-border deals, and a proposed “Michelangelo Dome” defense shield — angered politicians who expect input.
- Cingolani leaves after strong results, with shares up severalfold and net profit at about €1.33 billion, yet the stock fell more than 8% this week as leadership uncertainty grew, and the move comes within a broader round of state-firm appointments that kept Eni and Enel chiefs in place.