Finmeccanica shares down on CEO change

MILAN (AP) — Investors signaled concern Tuesday at a change of leadership at the scandal-plagued Finmeccanica defense contractor as part of sweeping management changes announced by Italian Premier Matteo Renzi at four strategic state-backed firms.

Renzi swept aside current executives at oil giant Eni, the Enel power company, the Italian postal service and Finmeccanica, in a bid for renewal. He also placed more women on the company boards, raising the quotient to almost one-third, although none was placed in charge of operations as CEO.