Shares in Nexi fell in early trade on Thursday, underperforming a weak Milan market, after the payments group appointed its outgoing finance chief Bernardo Mingrone as chief executive.
The company said late on Wednesday that Mingrone will replace Paolo Bertoluzzo as CEO. Bertoluzzo had led the business for a decade, a period during which he guided the company through its 2019 listing, expansion driven by acquisitions and a period of sharply lower share prices as the broader sector faced pressure.
Mingrone has been with Nexi for ten years. In one of his first public actions since the appointment, the newly named CEO disclosed that he bought Nexi shares on the open market.
In a company statement quoted by Nexi, Mingrone said: "This personal investment is a clear signal of my commitment to the future of Nexi and my confidence in the work we are carrying out."
Context and market reaction
The announcement of the leadership change arrived late on Wednesday and was followed by a sell-off in early trading on Thursday, with Nexi underperforming other stocks on the Milan exchange. The appointment of a long-serving finance chief to the top role and his immediate share purchase were central elements of the initial market response.
What is clear from the company statements
- Mingrone is the outgoing chief financial officer and has worked at Nexi for a decade.
- He will succeed Paolo Bertoluzzo, who served as CEO for ten years and led the company through its 2019 listing and acquisition-led growth.
- Mingrone publicly purchased Nexi shares on the open market and framed this as a personal vote of confidence in the company.
- The share price fell in early trading and underperformed a weak Milan market following the news.
Immediate implications
The transition represents a leadership change at a major European payments group and triggered a short-term market reaction. Beyond the company statement and the reported market move, the public information does not provide further details on strategic shifts or near-term operational plans under Mingrone.
Reporting is limited to the company announcement and observed market performance; no additional claims are made beyond those disclosures.