Digital Value head quits after being put under investigation, shares crash

Digital Value SpA

16/10/2024 16:36

Oct 16 (Reuters) - Digital Value  DGV.MI  said on
Wednesday its board appointed Paolo Vantellini as chairman and
Riccardo Benedini as its new chief executive officer following
the resignation of Massimo Rossi after he was put under
investigation on Tuesday.
    Rossi, who was chairman and CEO, is being investigated along
with other 17 people over alleged corruption in public
procurement contracts, according to legal documents reviewed by
Reuters.
    The IT service provider said in a statement it had replaced
Rossi in all of its subsidiaries and reaffirmed it was confident
that the investigation will clarify all aspects of the case.
    Shares in Digital Value closed down 78% at 11.74 euros,
having plunged after they began trading at only around 1500 GMT.
   

 (Reporting by Alberto Chiumento
Editing by Keith Weir)
 ((Alberto.Chiumento@thomsonreuters.com;))