Trieste, Italy - September 18, 2014, Trieste, Italy - Fincantieri S.p.A., a shipbuilding company, announces that Fabrizio Palermo will become chief financial officer and manager responsible for preparing financial reports at CDP, effective October 1, 2014.
Article continues below
On the same date, therefore, Mr. Palermo will leave the positions of Deputy General Manager and Chief Financial Officer of Fincantieri while he will maintain his currently held directorships in Fincantieri’s subsidiaries, including Vard Holdings Limited, a company listed on the Singapore Stock Exchange.
Mr. Palermo has been Deputy General Manager and Chief Financial Officer of Fincantieri S.p.A. since 2011 and 2006 respectively. Mr. Palermo joined the Fincantieri Group in 2005 as Head of Business Development & Corporate Finance.
Prior to that, he served as a Strategic Consultant with McKinsey & Co. in Milan from 1998 to 2005, specializing in business combinations, restructuring and reorganizations for major Italian and European industrial and financial groups. He started his career in 1995 as a financial analyst in london in the Investment Banking Division of Morgan stanley.
He has been a Non-Executive Director at Vard Holdings Limited and STX OSV Holdings Limited since March 15, 2013. He serves as a Director of Fincantieri USA Inc.
Mr. Palermo graduated in Business Economics with honors at la sapienza university of Rome, Italy.
Effective from 1 October 2014 Vitaliano Pappaianni, the current Corporate General Manager of Fincantieri, will also act as Chief Financial Officer on an ad interim basis.
Mr. Pappaianni holds a degree in Statistics and Actuarial Science, has been General Manager of Fincantieri since 2010 and is currently a member of the Board of Directors of Fincantieri Oil & Gas S.p.A. He started his career in 1977 with Alitalia in the Central Division of Finance and Control, then moved to IRI as part of the Central Inspectorate.
In October 1987 he moved to Finmeccanica, where he held various positions within the group including Head of Planning and Control for Finmeccanica S.p.A. and General Manager of Ansaldo Breda. In September 2008 he joined Fincantieri as Head of the Management System Directorate within the Merchant Ships Department. ■