(Alliance News) - Italian Exhibition Group Spa announced Monday that it has appointed Maurizio Renzo Ermeti as the new chairman of its board of directors.

Ermeti - who replaces Lorenzo Cagnoni, who passed away in early September - has been given operational and management powers in line with those previously given to Cagnoni.

The new chairman gave up his seat on the Remuneration and Appointments Committee, which Alessandra Bianchi joined instead.

Italian Exhibition Group's stock is down 1.1 percent at EUR2.77 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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