Finmeccanica, Italy's leading high-tech industrial group, is heading for the operational baptism of the new one One Company, result of the process of divisionalization of the company started in June 2014 by the managing director and general manager, Mauro Moretti.
From the first of January next, within the timeframe envisaged by the industrial plan and as announced several times by the top management, Finmeccanica will become a single company active in Aerospace, Defense and Security, with a new governance system divided into four sectors and seven divisions, surpassing the previous model of the holding company headed by subsidiaries.
"We are proud of the work we have done, which has allowed us to introduce the new organizational and operational model of the Group in compliance with the deadlines set since the beginning," says Moretti. “Divisionalization will increase the efficiency and effectiveness of Finmeccanica's activities, reducing management costs thanks to the maximization of economies of scale and synergies. With the One Company, Finmeccanica - adds the managing director and general manager - consolidates its competitive positioning on the increasingly complex and global Aerospace, Defense and Security markets, leveraging areas of technological leadership and product strengthened by 'belonging to a single large industrial group'.
From the 15 May 2014, the date of establishment of the new board of directors, the new course of Finmeccanica and, in this context, also the development of the project of One Company, recorded the positive judgment of the international financial market: as of today the company's share price has in fact recorded an increase equal to approximately 120% on the Stock Exchange. The growth path of Finmeccanica is also witnessed by the results achieved in the first nine months of the 2015, which showed an increase in the EBITA and EBIT indicators, respectively equal to 45% and 84% compared to the first nine months of the 2014, with a positive ordinary net result of 150 million, compared to the net loss of 54 million of the first nine months of the 2014.
Finmeccanica's new organizational structure is based on four sectors and seven divisions.
The four sectors:
- Helicopters
- aeronautics
- Electronics, Defence and Security Systems
- Spazio
The seven divisions:
- Helicopters
- aircraft
- aerostructures
- Avionics and Space Systems
- Electronics Terrestrial Defence and Naval
- Defence Systems
- Safety systems and information
The change in governance involves the centralization of the guidance and control systems, while the management of the business will be decentralized in favor of the divisions. The latter will be given the powers to ensure complete end-to-end management of the related scope of activity, with the consequent full responsibility for the relevant income statement. Instead, the sectors will have tasks and functions of coordination.
