February 28, 2020 / 12:18 PM / a month ago

Top investors in Italy's A2A delay board deliberations due to virus emergency

MILAN, Feb 28 (Reuters) - The main shareholders in A2A have delayed the start of deliberations over a new board for the northern Italian utility until March 11 due to the coronavirus emergency in the region, Brescia mayor Fabio Delbono said on Friday.

The term of the current board expires in May. Chairman Giovanni Valotti and Chief Executive Valerio Camerano may leave the company after six years, Italian newspapers wrote this week.

The municipalities of Milan and Brescia are A2A’s two main shareholders and together hold 50% of its capital.

“No decision has been taken yet on the roles of chairman and CEO,” Delbono said after meeting the mayor of Milan, Beppe Sala, to discuss the governance of A2A.

According to the Italian press, former Telecom Italia CEO Marco Patuano is a top candidate for the role of chairman. Renato Mazzoncini, the former boss of state railways firm Ferrovie dello Stato, is expected to take the role of CEO. (Reporting by Giancarlo Navach, editing by Gianluca Semeraro and Mark Potter)

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