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Pansa replaces Orsi as Finmeccanica CEO

Reeling from yesterday's arrest of chief executive Giuseppe Orsi as part of a bribery probe, Italy's Finmeccanica has moved swiftly to change the company's leadership following a board meeting on 13 February.

Alessandro Pansa will take over the CEO role, as well as retaining his current position as chief operating officer, says Finmeccanica.

Adm Guido Venturoni will become vice-chairman, it says.

The move is aimed at "insuring comprehensive management of the company and group", it says.

Orsi was arrested on 12 February as part of an ongoing investigation centred on the 2010 sale of 12 AgustaWestland AW101 helicopters to the Indian government.

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