Elsag Bailey Process Automation N.V. reports resignation of Group Vice President and Chief Financial Officer.AMSTERDAM, the Netherlands--(BUSINESS WIRE)--May 15, 1996-- Elsag Bailey Process Automation N.V. (NYSE NYSE See: New York Stock Exchange : EBY EBY Ente Binacional Yaciretá (Argentina-Paraguay) ) today announced the resignation of Massimo Brunelli, Group Vice President and Chief Financial Officer. Mr. Brunelli's resignation stems from his desire to return to his native Italy and pursue new opportunities. Mr. Brunelli joined Elsag Bailey Process Automation N.V. in 1990 as Director, Strategic Operations and, as Chief Financial Officer, played a key role in the Company's initial public offering in 1993. Effective immediately, the Company announced that William P. Donnelly, Vice President and Group Controller will assume both the financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and control functions and will report to Mr. Vincenzo Cannatelli, Managing Director and Chief Executive Officer. Also reporting to Mr. Cannatelli will be Mr. Jean-Paul Marie, Vice President and Treasurer. Mr. Cannatelli stated, "On behalf of our shareholders and our employees, I want to thank Massimo Brunelli for his significant contribution to the development and growth of Elsag Bailey Process Automation. We wish him much success in his future endeavors." Elsag Bailey Process Automation N.V., incorporated in the Netherlands, is a global supplier of process automation systems, instrumentation products, analytical measurement devices, and related professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , with operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon in more than 25 countries. The Company's technologies are installed throughout a wide range of process industries including electric utilities, oil and gas, pulp and paper, water and wastewater, metals and ceramics, and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. . CONTACT: Elsag Bailey William P. Donnelly, 216/585-8355 |
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