Exor 2022 Net Profit Surged, Names Nitin Nohria as New Chairman
April 17 2023 - 3:16AM
Dow Jones News
By Adria Calatayud
Exor NV said Monday that net profit for 2022 surged as it booked
higher gains from investments in subsidiaries and associates, and
nominated Nitin Nohria as its new chairman, replacing Ajay
Banga.
The investment company, which holds stakes in a number of
companies such as car makers Ferrari NV and Stellantis NV, said net
profit for last year came to 4.23 billion euros ($4.65 billion)
compared with EUR1.72 billion a year earlier.
Exor's net asset value at the end of the year was EUR28.23
billion, down from EUR31.07 billion a year earlier.
The company's board proposed a dividend of EUR0.44 a share for
last year, up from EUR0.43 a share.
Exor said it would propose Mr. Nohria as new chairman as Mr.
Banga wouldn't stand for re-election following his nomination as
next president of the World Bank.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 17, 2023 03:01 ET (07:01 GMT)
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