Finmeccanica reorganizes

Finmeccanica announced late last month it has reorganized into a single entity with four sectors and seven divisions.

The new structure replaces the previous model of a holding company with separately controlled businesses, the company announced.

The four sectors are helicopters; aeronautics; electronics, defence & security systems; and space. The seven divisions are helicopters; aircraft; aero-structures; airborne & space systems; land & naval defence electronics; defence systems; and security & information systems.

“The change in governance involves the centralisation of the management and control systems, while the divisions will be responsible for business delivery and will be given the powers to ensure complete end-to-end management of its scope of activity, with full responsibility for financial performance,” the company said. “The sectors will be responsible for strategic coordination.”

The company now operates only in aerospace, defense and security, Finmeccanica said, after completing the divestiture of unrelated businesses in 2015.