The management board of Italian steel group ILVA has resigned, the company said on Saturday, following the seizure of 8 billion euros of assets from its controlling company in connection with allegations of environmental crimes. ILVA, whose main plant in the southern city of Taranto is Europe's largest, has been under special administration since July last year and prosecutors are also investigating its main shareholder, Emilio Riva, for tax evasion.
ILVA said in a statement that the resignation of the board, led by Chief Executive Enrico Bondi and President Bruno Ferrante, would be presented at a meeting of shareholders on June 5, when a new board would be nominated.
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