Finmeccanica chair resigns

Italian defence group Finmeccanica said it had appointed its chief executive, Giuseppe Orsi, as chairman after Pier Francesco Guarguaglini resigned from the position amid a growing corruption probe. Guarguaglini, who had been in the job since 2002, had previously resisted calls to step down from the helm of the loss-making company, Italy’s second-biggest industrial group after Fiat. Finmeccanica, part of the Eurofighter consortium alongside BAE Systems and EADS, is 32 per cent owned by the state but embroiled in a long-running probe centring on accusations of false invoices and slush funds to bribe politicians.