July 28, 2018

FS board refutes minister’s claim that it broke its own rules

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Frecciarossa high-speed trains at Milan Central. Frecciarossa high-speed trains at Milan Central.

THE board of Italian State Railways (FS) issued a statement on July 27 refuting the claim on July 25 by Italy’s minister of infrastructure and transport, Mr Danilo Toninelli, that it had not followed its own articles of association, and therefore the board and its CEO Mr Renato Mazzoncini, should be dismissed.

The FS board says it has “followed strictly and diligently” the provisions of its articles of association. “According to the articles of association, the board of directors may remove the CEO in the case of the existence of a referral for trial or, as in this case, submit a proposal for the CEO to remain in office in order to safeguard the pre-eminent interests of the company,” the FS board says.

“Therefore, the board did not circumvent the statutory provisions, but acted in full compliance with them, under the supervision of the supervisory authorities that attend board meetings.”

The FS board of directors says it issued the statement “to protect the reputation and professionalism of the board,” and says that if the minister continues to make “similar statements detrimental to the dignity of the board of directors,” steps will be taken, according to the regulations in force, to protect itself.

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