New Alitalia today announced the composition of the Board of Directors of the company that will become the new Alitalia airline entity from 1 January 2015, and in which Etihad Airways will take a minority stake.
In terms of the airline’s governance rules, the Board representation reflects the shareholding structure of the new Alitalia post-closing.
The Board will comprise nine directors. Six directors will be appointed by Alitalia, among whom the Non-Executive Chairman, one independent Director and the jointly designated Chief Executive Officer. Three directors will be appointed by Etihad Airways, one of whom will be the Vice Chairman.
The announcement confirms the appointment of:
- Luca Cordero di Montezemolo – Non-Executive Chairman (Alitalia appointed)
- James Hogan – Non-Executive Vice Chairman (Etihad appointed)
- Silvano Cassano – Chief Executive Officer (Jointly appointed)
- Roberto Colaninno – Non-Executive Director and Honorary Chairman (Alitalia appointed)
- Giovanni Bisignani – Non-Executive Director (Etihad appointed)
- Professor Paolo Colombo – Non-Executive Director (Alitalia appointed)
- Antonella Mansi – Non-Executive Director (Alitalia appointed – independent)
- Jean Pierre Mustier – Non-Executive Director (Alitalia appointed)
- James Rigney – Non-Executive Director (Etihad appointed)
The new Board, which will be appointed for a period of three years, will assume office immediately in order to prepare the implementation of the transaction.
Chairman of the new Alitalia company, Luca Cordero di Montezemolo, said: “I am proud to welcome our new Board as we embark on this exciting phase in our airline’s history.
“The diversity and depth of their cumulative experience and knowledge will be pivotal in supporting and guiding the implementation of the business plan and the successful turnaround of Alitalia.”
Mr Montezemolo also welcomed the appointment of Silvano Cassano as Chief Executive Officer of the new Alitalia company, who will assume office with immediate effect to prepare the new business plan for the company from 2015 onwards.
Chief Executive of the new Alitalia company, Silvano Cassano, said: “The relaunch of Alitalia is going to be an extremely challenging and exciting project. I’m very proud and honoured to join the Alitalia team”.
Mr Cassano has more than 35 years of experience in senior management roles across a number of different industries, both internationally and locally. He also served as Chairman and CEO of Italian shipping company Grandi Navi Veloci, CEO of global fashion brand Benetton Group, CEO of Fiat Auto Financial and Consumer Services, and Vice President European Operations at Hertz Europe.
President and Chief Executive Officer of Etihad Airways, James Hogan, said: “We are very pleased to have received EU regulatory clearance and approval from the Italian Civil Aviation Authorities, (ENAC) to complete the transaction and now look forward to working in partnership with Silvano and the new Alitalia management team in reshaping the airline”.
“We have a vision and a sound business plan to establish the right foundations for a sustainable and profitable company, and an efficient operation which will provide Italian travellers with improved connections worldwide, drive increased inbound tourism into the country, and safeguard thousands of Italian jobs”.
Mr Colaninno, said: “I would like to thank the Board of “present Alitalia” and Chief Executive Officer, Gabriele Del Torchio, for their service to Alitalia during very challenging times and for their role in negotiating and concluding the equity investment transaction with Etihad Airways, which we expect to close on 31 December 2014.”