Those who know them closely say that after an initial idyll “they no longer cared”. In short, that the possible breakup, the one that has been talked about (and written about) for a few weeks, would (also) be of a “personal” nature, and that the more “political” behind the scenes are not very well founded. It happens, sometimes even character aspects have their weight. The fact is that it now seems quite certain that Giorgia Meloni has decided to proceed with the replacement of Leonardo’s CEO, Roberto Cingolani, whom she herself wanted in 2023, and that the decision was communicated to the person concerned before Easter.

An undenied rumor that had its first good consequences on the stock market, where the stock of the leading Italian company in the world of defense accumulated a series of losses in just a few days. A sign that the financial circles have poorly digested the news, and indeed, there are those who say that there is a sort of pressure on the part of the markets to make the prime minister go back on her steps. Furthermore, given the excellent results that the company has reported (since 2023 the stock has grown on the stock market by three hundred percent), the result of the historical moment in which we live (with two wars underway in the West it is clear that those in the defense sector have a lot of work) but certainly also the result of the right choices of the management.

In these cases, nothing is ever certain until the official announcement (which is expected within days) and even the very reasons for the choices pass through “peripheral” channels, leaving room for more complex reconstructions, which are not always consistent. So in addition to the character fact we were talking about at the beginning, many observers have underlined how the prime minister in these three years would have suffered from the rather “autonomous” character of Leonardo’s CEO, capable of stipulating agreements with Airbus and Thales (France), with the Turks of Baykar or the Germans of Rheinmetall (ground defense) without interfacing too much with the political decision-maker, with choices that looked – we are still in the field of reconstructions through the press – more to the European partners than to those Americans.

Some also underline the coldness of certain military circles towards Cingolani (it is said that his absence at the last parade on 2 June was not taken well), while others highlight that Cingolani’s emphasis on the “Michelangelo Dome”, the anti-missile shield which will be operational in two or three years’ time, would not have been entirely welcome. On the other hand, it is clear that a character like Cingolani, a former minister in the Draghi government and a profile different from the classic state manager, would have brought with him some type of personalistic emphasis. A man of great culture, a trained physicist, a university professor with very high level acquaintances, even in the world of politics, he has always had the stigma of the innovator. And politicians, who have a different pace (and needs), do not always like innovators.

Who is Cingolani

Friend and then less friend of Grillo, on good terms with the Matteo Renzi government, he is certainly an element that can be classified as “non-ordinary”. And it is precisely from here that that coldness with Giorgia Meloni that has increased over time would arise, a prime minister who after the post-referendum “political” clean-up (via Delmastro, Bartolozzi and Santanché) evidently feels the need to give some signs of discontinuity even in different areas (if everything were obviously confirmed). Less flashy for the general public, but certainly significant. If this were to happen, Cingolani would have to leave the company after just three years of work, even if from a personal economic point of view he would have some consolation: thanks to the brilliant economic results his salary went from 1.9 to 2.17 million and he would have accrued a severance package of over 51 thousand free shares, which today are worth around 3 million euros.

The nomination files

The probable replacement of Cingolani (Lorenzo Mariani, who previously worked at Leonardo and is currently at MBDA, a missile joint venture, could arrive) is the centerpiece of the round of appointments that the government is preparing to launch in the coming weeks. Although major shocks are not expected. In the positions that count, those of CEO, Descalzi and Cattaneo (Eni and Enel) should be confirmed while Giuseppina Di Foggia is more in doubt at Terna. If anything, some movement is expected in the presidencies, with Francesco Macrì towards Leonardo, Andrea De Gennario or Elisabetta Belloni at Eni and the confirmation of Paolo Scaroni at Enel.