Alessandro Profumo, former CEO of Italian bank Unicredit, has been tapped by the Italian government to succeed Mauro Moretti as CEO of Leonardo, Defense News reported Saturday.
A spokesman for Italy’s finance ministry told Defense News that Profumo will work to support the state-controlled defense contractor’s business development efforts in the international market, Tom Kington wrote.
Profumo became CEO of Unicredit in 1998 and helped oversee the growth of the bank’s workforce to at least 162,000 employees in more than 20 countries prior to his departure in 2010.
Moretti was responsible for the integration of the firm’s semi-autonomous units into one division and the change of the company’s name to Leonardo from Finmeccanica during his three-year term, Kington noted.
Profumo’s appointment comes weeks after Leonardo agreed to purchase Daylight Solutions through its U.S. subsidiary DRS under an equity deal worth $150 million and nearly two months after it ended its partnership with Raytheon (NYSE: RTN) to compete for the U.S. Air Force’s T-X trainer aircraft program.
