Finmeccanica to change its name to Leonardo
Following disposals in adoption of the new operational and organisational model with the launching of the 'One Company' - such as the sale of its rail and traffic signal businesses to Hitachi for $2.0 billion - and the achievement of results which were higher than expectations, it issued a statement saying it is 'defining achieving targeted efficiency improvements, reorganisation and development' with a 'different commercial approach to the market'.
The statement said: With the execution of the new Organisational and Operating Model as One Company and, at the same time, the overcoming of the previous model as financial holding, Finmeccanica has not only redefined its own structure - to make it more consistent with customers and markets requirements and therefore more able to support the specific mission of creating value for all stakeholders - but it also aimed to redefine its identity.
In this context of redefinition of purposes and priorities, in which the Company plans new models of development and candidates itself with a new role, there is a need of a new name representing the Company and that also constitutes the first and most important point of synthesis between its deep, specific values supporting its strategies. In particular, the Board of Directors’ proposal is to change the Company’s name putting a new name before the current one until 31 December 2016 (with the faculty to use individually both as the abbreviate form of the Company’s name), in order to grant the Company a time frame suitable to ensure the required continuity in relationships with foreign countries and providing for the exclusive use of the new name as of 1 January 2017.
Specifically, the proposal provides that the Company adopt the corporate name 'Leonardo – Società per azioni' (abbreviated form 'Leonardo S.p.a.') with effect from 1 January 2017 and the corporate name 'Leonardo - Finmeccanica - Società per azioni' (abbreviated form 'Leonardo S.p.a.' or 'Finmeccanica S.p.a.') until 31 December 2016.