the former managing director of Italian Railroads of the State, Michele Mario Elia, has left the group



The former managing director of Italian Railroads of the State, Michele Mario Elia, leaves the group. He has announced today the Board of the company having emphasized that "the board of directors and all the colleagues of Italian Railroads of the State thank it for the 40 years of professional life dedicated to the development of the group". Elia, class 1946, in fact are assumed in 1975 from the company, in which it has covered various managing assignments and of summit between which that of managing director from on May 30, 2014 until on November 26, 2015, when entire the Italian Board of Directors of FS, included president Marcello Messori, has resigned resignation.

The board of directors of the Italian railway group has evidenced that "Elia has been actor first hand of the great organizational changes and the main technological innovations that have carried the group FS to levels of solidity and the most elevated efficiency between in Italy, Europe and the world".

Yesterday, in the course of a audition near the commission Transports of the Chamber and Public works of the Senate, programmed in order to deepen the aspects of the privatization of the group Italian Railroads of the State, the minister of the Economy and Finances, Pier Carlo Padoan, it has expressed critical to past management of the group, that it is time guided from president Gioia Ghezzi and the managing director Renato Mazzoncini. However the minister has specified that he did not intend neither intends to express judgments on the precedence management of the company, not being its competence, also confirming, at the same time, that it is true that the government has recorded the requirement of a change of strategy regarding the past, in order to obviate to a series of problems.

The minister has remembered that the quotation the railway society is previewed in the next few months of 2016 and, emphasizing that FS Italian, of which the Ministry of the Economy and Finances he stops the entire share capital, is the holding ones of an industrial large group, between the greater ones of the Country, and that draft of a strategic company and an infrastructure endowed key of great technical and managerial competences that all over the world supplies services of technical transport or expertise in Europe and, has restated that the privatization intends to exalt such characteristics, setting itself as objectives the ulterior development of the group, the creation of popular diffuse shareholders and ofthe dependent between the thrifty people and the recepimento of resources financial institutions to assign to the reduction of the national debt.

Padoan has confirmed that the outline of I decree previews the dismissione until 40% of the capital of Italian Railroads of the State Spa, that could be realized also in more phases, through a public offer for sale on the financial markets, revolt to the public of the thrifty people in Italy (included the dependent of the group) and to Italian and international institutional investors. The minister has restated among other things that the property of the railway infrastructure will remain public, emphasizing that property and management is distinguished aspects and sundries can therefore be characterized solutions. Padoan has specified that the government however has considered that, for the positioning on the market, the preferable model was, as happened also for Enel and Poste Italiane, that of the entire privatization of the holding ones (however within the quota 40%), rather than that of the privatization for segments.

Padoan has moreover confirmed that the positioning on the market is not only aimed at the obtaining of returns, but to a more general process than efficientamento of the company, than it will be had also through I throw again of those you leave of "the less valuable" net and the rail shipment and currently in more serious suffering and has specified that if this politics of reorganization already were started, there would be less reasons for the privatization, while instead with the income on the market they will be able also to be retrieved put up resources in order to put into effect the investments demanded from the field.