(Alliance News) - Iren Spa announced Tuesday that the board of directors has temporarily revoked the delegated powers of the CEO, Paolo Signorini, who was arrested in the morning.

Proxies have thus been redistributed to other directors. Specifically, to the chairman go those of communications, associations, regulatory affairs, innovation, finance, and investor speaker of the various business units.

The vice chairman was given the delegations of corporate affairs, corporate social responsibility and territorial committees, internal audit and compliance, and personnel and organization.

"This arrangement guarantees the full continuity of the company's activities for the achievement of the objectives contained in the industrial plan," the company explained.

Iren's stock is down 3.0 percent at EUR1.83 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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