Italy's Industrie De Nora appoints new CFO (updated)
29/05/2024 19:39
(Adds details from statement in paragraph 2, background on the
company's quarterly earnings in paragraphs 3-4)
May 29 (Reuters) - Italian electrode maker Industrie De
Nora DNR.MI has appointed Luca Oglialoro as its new chief
financial officer following the resignation of Massimiliano Moi,
the company said on Wednesday.
Oglialoro's role will be effective from June 10 as Moi,
who became the CFO in May last year, departs to pursue new
professional opportunities, the company said.
The new CFO appointment comes as the company reported
sharply lower first-quarter
revenue and net profit
this month, primarily due to poor performance at its core
electrode technologies business.
The group's first-quarter revenue fell 12.8% from a year
earlier to 189.3 million euros ($204.65 million), hit also by
adverse foreign currency moves. Net profit was down 26% over the
same period at 17.9 million euros.
($1 = 0.9250 euros)
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Vijay
Kishore and Maju Samuel)
((rishabh.jaiswal@thomsonreuters.com;))