2014 - 2016 From Finmeccanica to Leonardo
The history trail
In the first half of 2014, the change in management at the top of Finmeccanica started a process of profound change for the Group, both in terms of strategic choices and organizational structure. In June 2014, Mauro Moretti, new Chief Executive Officer and General Manager, launches guidelines for the new Group's Organizational and Operational Model. The goal was to create a more cohesive, homogeneous and efficient group in which all processes (research, marketing and sales, engineering, procurement, strategies and governance) are centralized and integrated and can interact more effectively for the benefit of industrial productivity in the various sectors where the Group is present and of competitiveness in global markets, to which the new Finmeccanica will be able to speak with one voice. The One Company starts its activities on 1 January 2016: the activities of AgustaWestland, Alenia Aermacchi, Selex ES, OTO Melara and WASS are absorbed within Finmeccanica and transformed into Divisions. Finmeccanica retains Parent Company and Corporate Centre functions for subsidiaries and joint ventures not included in the divisional scope (DRS Technologies, MBDA, Telespazio, Thales Alenia Space, ATR).
The 2015 - 2019 Industrial Plan
In January 2015, Mauro Moretti unveils the new Finmeccanica Group Industrial Plan, which aims both to strengthen in the core business high-tech Aerospace, Defence and Security sectors, and to increase competitiveness on international markets. The strategic evolution of the new Finmeccanica is set over four directions: focusing the business portfolio on A,D&S; cutting-edge technology with a focus on dual-use applications for the civil sector; competitive products and services and development of integrated capabilities; more internationalization and attention to selected target markets. Meanwhile, Finmeccanica starts restructuring in specific segments of activity in order to reduce costs and achieve economies of scale, in addition to carrying out the process of divestment of non-core activities.
Disposal of Transportation sector
At the end of 2014, an agreement between Finmeccanica and the Italian subsidiary of the Chinese group King Long led to the creation of the newco Industria Italiana Autobus (20% Finmeccanica and 80% King Long), the new Italian industrial hub for the production of buses, which brings together the most important national industries of the sector. Finmeccanica transferred its stake in BredaMenarinibus to the newco, thereby taking a further step in the Group's portfolio rationalization process. 2015 opened with a new agreement in the field of Transport: the Japanese group Hitachi signed a binding agreement with Finmeccanica for Hitachi's acquisition of the AnsaldoBreda business, excluding some revamping activities and residual contracts, and of the entire Finmeccanica stake in the share capital of Ansaldo STS, approximately 40% of the total capital. There was also a buyer for FATA, another subsidiary of the Finmeccanica Group since 2004 that was not part of the core business. FATA, dealing in the design and manufacture of industrial systems and equipment, was sold in 2015 to the Gruppo Danieli, dealing in the production of steel plants.
From Finmeccanica to Leonardo
The process undertaken involving the deep renewal of the company culminates, on 28 April 2016, in the name change. The Shareholders' Meeting approves Finmeccanica’s new name which, henceforth, will be Leonardo - Società per Azioni. It is a truly historic step for the Group: Finmeccanica is no longer a financial holding company, but an integrated industrial company, technologically advanced and focused exclusively on Aerospace, Defence and Security, that puts innovation and customer focus at the heart of its growth strategy. A company that maintains strong and deep roots, represented by the technological excellence that the absorbed companies bring with them and that, at the same time, designs new paths of development, aiming at greater internationalisation and directing production on highly intensive technology and knowledge based products, services and solutions. An integrated offer on the high end of the value chain that makes use of the skills required by the industry of the future: design and engineering capability in advanced sectors, development of intellectual property and research aimed at innovation of products and processes. The name of Leonardo - a tribute to Leonardo da Vinci, the great Renaissance artist, engineer and scientist - has the task to communicate the new company's mission on the global stage. A name chosen for its strong evocative value, universally recognised as a symbol of creativity and innovation and that represents the ideal bridge between the historical, cultural and scientific tradition at the origin of Finmeccanica and the industrial future toward which it is propelled.