Only silence from PM Conte and Minister Gualtieri about Profumo's problems
Sentence on Leonardo's CEO is a risk for company reputation
It is called reputationin the Anglo-Saxon economic world which now considers it a fundamental asset for the evaluation of a company. And today in Leonardo, led by Alessandro Profumo (sentenced in first instance for the Monte dei Paschi derivatives affair to six and a half years in prison), it seems a faded value. Too much silence and lack of clarity around the bank manager, fasting the industrial logic of Defense when he was parachuted in Piazza Monte Grappa, are crumbling the intangible assets of the company with possible serious repercussions also on its tangible value.
Yet it was Profumo himself who signed the 2018 sustainability report which verbatim read: "Leonardo interacts with its stakeholders with integrity and respect for the rules and in the same way asks its suppliers, customers and counterparties with whom it interacts, to accept and apply the same ". These principles in the judicial affairs of Profumo (and related reflections on the company) today seem forgotten. Yes, because if according to the Constitution one is innocent up to the third degree of judgment, and the rule is to be considered the founding pillar of a democratic and guarantee system, it cannot also be considered a shield for the reputation and good repute of a company. which thrives on relationships with stakeholders such as shareholders (large and small), banks, governments and suppliers and national and international customers. You can't ignore it. It is not clear why Profumo did not submit his resignation to the controlling shareholder, the Treasury Ministry, at the time of the publication of the sentence. A duty, according to Leonardo's own sustainability report. Probably the resignation would have been rejected, for the principle of the presumption of innocence, but would have contributed to give a sign of institutional sensitivity. And not just personal but, also and above all, for Leonardo who is confronted every day in markets where the corporate reputation is an essential element of comparison with competitors. An expected act that has not arrived. Serious criticism should also be addressed to the shareholder Tesoro and the prime minister who, so far, have shown an embarrassed silence. The Minister of the Treasury, Roberto Gualtieri , and Prime Minister Giuseppe Conte . Their silence on the story is almost as embarrassing as that of the former CEO of MPS.
Leonardo is a listed company, which involves strategic sectors such as defense and intelligence. The government has a political and ethical obligation to make its voice heard. The Minister of Economy and the Prime Minister cannot ignore it. Both must make their voices heard and clarify, if there is any need to clarify, to the market and stakeholders. Leonardo is a wealth of technology and wealth of all Italians, certainly not just those who drive it. Strike a shot.
Now silence is not golden.
AVIONEWS - World Aeronautical Press Agency