Finmeccanica approves new project
The Board of Directors of Finmeccanica, convened under the chairmanship of Gianni De Gennaro, examined and approved the project for a New Group Organisational and Operating Model applying to the Aerospace, Defence and Security sectors (A,D&S).
The new organisational model is in line with similar initiatives promoted by our main competitors aimed at effectively tackling the challenges posed by the transformations affecting the international scenarios of reference. These transformations mainly relate to the reduction of domestic budgets, the gradual completion of programmes funded by the Governments and the increase of competitiveness requirements.
The model will enable to value the human capital, increase the return on invested capital and ensure higher profitability, sustainability and cash flow generation. It represents a further significant step towards strengthening the Groups’s governance, thus executing Finmeccanica’s strategic plan as at May 2013, with the following key objectives: Restructuring, re-launch and development of A,D&S, through relevant consolidation and industrial reorganisation initiatives. Concentration in A,D&S, through the disposal of Ansaldo Energia and the expected deconsolidation of the transportation. Enhancing of Governance, through a number of targeted initiatives aimed at shortening the reporting lines, increasing the organisation’s effectiveness and improving management efficiency. Finmeccanica is active in the following sectors: Helicopters (AgustaWestland), Defence Electronics and Security (Selex ES, DRS) and Aeronautics (Alenia Aermacchi) – which represent its core business – and it is also well positioned in the sectors of space (Telespazio, Thales Alenia Space), defence systems (Oto Melara, WASS, MBDA) and transportation (Ansaldo STS, AnsaldoBreda, BredaMenarinibus).