ROME (Reuters) – Italy’s stock market watchdog Consob is scrutinising the government’s CEO nominee at defence group Leonardo after an opposition lawmaker raised potential conflict-of-interest issues, sources at the regulator said on Friday.
Italy’s Treasury on Wednesday tapped former Energy and Environment Minister Roberto Cingolani to take charge of Leonardo, as part of a round of nominations at state-controlled firms.
Green party leader Angelo Bonelli complained about the choice to Italy’s Antitrust agency, saying it runs against a law that bans ministers from taking on jobs in sectors they previously regulated in the 12 months after leaving office.
“Leonardo operates also in the environmental sector and Cingolani was ecological transition minister in the previous government led by Mario Draghi until October 2022,” Bonelli said on Thursday.
Sources at Consob said Bonelli’s complaint “indirectly concerns” also their agency as its competences include supervising the correct functioning of listed companies’ internal bodies.
On Thursday, Italy’s Antitrust authority declined to comment, while text messages to Cingolani went unanswered.
Cingolani has a background as a physicist and has informally advised Prime Minister Giorgia Meloni’s office on energy policy. He was previously Leonardo’s chief technology and innovation officer.
Leonardo’s shareholders are expected to ratify his appointment at a May 9 meeting.
(Reporting by Alvise Armellini and Stefano Bernabei; editing by Diane Craft)
