Proxy adviser ISS recommends to vote against Leonardo CEO liability action By Reuters

MILAN (Reuters) – Proxy adviser ISS recommended on Monday that Leonardo shareholders vote against a liability action promoted by investor Bluebell against the group’s chief executive given “the absence of a sufficiently compelling rationale”.

Last year CEO Alessandro Profumo was sentenced in the first instance to six years imprisonment for false accounting in his previous role as chairman of Banca Monte dei Paschi di Siena.

Bluebell, which owns 25 shares in the defence group, said it wanted to propose the action and ask for damages stemming from the conviction in a letter to Leonardo’s chairman dated April 28.

The shareholder meeting is scheduled for May 19.