(Alliance News) - The board of directors of Fidia Spa announced Friday that it has appointed Luigi Maniglio, formerly vice chairman, as its new executive chairman, giving him the powers of administration of the company within the limits set by the bylaws.

In leading the company, the new executive chairman will be assisted by Chief Restructuring Officer, Marco Livelli, a long-time expert in the management and restructuring of industrial companies, especially in the machine tool sector, who will help strengthen the company on the Italian and international markets.

Fidia is flat at EUR1.52 per share.

By Claudia Cavaliere, Alliance News reporter

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