Alitalia CEO Will Be Resigning After Striking A Deal With Etihad AirwaysMd Noman Siddique (Author) Published Date : Aug 10, 2014 13:04 IST
After successfully rescuing Alitalia the Chief Executive Gabriele Del Torchio is all set to leave the firm as the veteran did manage to make a deal with Etihad Airways as he informed the news at a daily newspaper recently.
Del Torchio was appointed last year to help the struggling company to see some profit as he was the CEO of famous motor cycle company Ducati.
The loss making Italian Airline had a deal with the Abu Dhabi based airline giant Etihad where the deal with the company has been over the talks for at least one year and on Friday finally the Italian company managed to struck a deal where Etihad will be taking over half of the Italian firm.
Etihad will be investing huge money and it was learnt that they are going to invest 560 million euros to gain profit from the struggling firm.
Del Torchio informed that his main aim was to make an alliance for his company, My task was to lead the company towards an alliance, I don't know yet what I will do, but I'm not ready to retire yet, he said.
However the deal with Etihad will be finalized later this week and Del Torchio added that the firm will be appointing a new CEO in place of him and he also informed that Alitalia will be replacing an Italian on his post.
The former CEO of Italian clothing manufacturing and retail group Benetton Silvano Cassano is likely to replace Del Torchio.
Alitalia will also see a new chairman after Etihad will be taking over 49 percent of its share where the current chairman of Alitalia Roberto Colaninno informed that he might be leaving his post as well.
Alitalia CEO Will Be Resigning After Striking A Deal With Etihad Airways