(Alliance News) - Iren Spa announced Wednesday that its board of directors has co-opted Paolo Emilio Signorini and appointed him as its new chief executive officer and general manager, following the resignation submitted by Gianni Vittorio Armani on June 12.

The appointment follows the formal indication made by the union committee of Iren's public shareholders composed of Marco Bucci, mayor of Genoa; Stefano Lo Russo, mayor of Turin; and Luca Vecchi, mayor of Reggio Emilia.

Paolo Emilio Signorini, following the granting of management proxies, qualifies as a non-independent executive director and, based on available information, does not hold shares in the company.

Iren's stock on Wednesday closed 0.3 percent in the red at EUR1.88 per share.

By Chiara Bruschi, Alliance News reporter

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