(Alliance News) - The board of directors of Iren Spa on Tuesday resolved the dismissal of Paolo Signorini for objective just cause, as a result of the objective incompatibility of Signorini's work performance, as a top executive of Iren, with the contingent situation generated.

As the company explains in a note, the precautionary custodial measures taken against Signorini on May 7, connected to the ongoing investigations of the Genoa Public Prosecutor's Office and confirmed even after the petitions made by his defense, "cause an impossibility, now irreversible and no longer only temporary, of exercising his functions as a top executive."

Iren trades in the green by 1.2 percent at EUR1.99 per share.

By Claudia Cavaliere, Alliance News reporter

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