Published by Global Banking & Finance Review®
Posted on March 26, 2026
3 min readLast updated: March 26, 2026
Add as preferred source on GoogleItaly’s Nexi shares dropped ~1.6% to €3 in early Milan trade on March 26, after naming CFO Bernardo Mingrone as successor to longtime CEO Paolo Bertoluzzo, adding short‑term uncertainty despite potential long‑term strategic benefits.
MILAN, March 26 (Reuters) - Shares in Italy's Nexi fell in early trade on Thursday, underperforming a weak Milan market, after Europe's biggest payments company picked its outgoing finance chief Bernardo Mingrone as chief executive.
Nexi said late Wednesday that Mingrone would succeed CEO Paolo Bertoluzzo, who led the company for a decade, overseeing its 2019 listing, its acquisition-fuelled expansion and its struggle with a plummeting share price as the wider sector came under pressure.
In one of his first moves, Mingrone, who has been with the company for a decade, announced the purchase of Nexi shares on the open market.
"This personal investment is a clear signal of my commitment to the future of Nexi and my confidence in the work we are carrying out," he was quoted as saying in a company statement.
NEW CEO FACES 'CHALLENGING TIMES'
Shares in Nexi were down 2.5% at just under 3 euros as of 0931 GMT, against a 1.3% drop in Italy's blue-chip index.
Nexi listed at 9 euros a share and hit a record high above 19 euros five years ago.
A Milan-based trader said the change in CEO was not negative in itself, as a new leader could help the embattled group turn a page, but in the short term it added uncertainty.
"Mingrone is taking on the role of CEO in challenging times, as Nexi faces revenue headwinds from contract losses and increased competitive threats in core markets, putting, in our view, pressure on future re-acceleration and profitability," Jefferies said in an analyst note.
"That said, Mingrone demonstrated strong execution in restructuring Nexi's balance sheet post-IPO and throughout the European consolidation phase."
NEW CFO TAKES OVER ON APRIL 1
Payments firms soared during the pandemic-driven boom in e-commerce, but shares later sank as rapid technological change fuelled concerns that new entrants could outpace incumbents such as Nexi.
The company's business is traditionally tied to banks, whose role in payments is increasingly challenged by new technology.
At Nexi, Mingrone also acted as deputy general manager and CEO of the Nexi Payments unit.
He is due to be replaced as CFO by Piergiorgio Pedron, whose appointment, effective April 1, was announced in January.
(Reporting by Valentina Za, Giancarlo Navach and Alvise Armellini, Editing by Mark Potter and Keith Weir)
Nexi shares dropped due to short-term uncertainty following the appointment of CFO Bernardo Mingrone as CEO.
Bernardo Mingrone, previously Nexi's finance chief, is replacing Paolo Bertoluzzo as CEO.
Nexi faces revenue headwinds from contract losses and rising competition in core markets.
Nexi, like other payments firms, surged during the pandemic-driven rise in e-commerce but later saw its shares fall amid increased competition and sector pressure.
Bernardo Mingrone executed Nexi’s post-IPO balance sheet restructuring and was key during its European consolidation phase.
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