Lastminute.com Hits 'Restart' Button With New CEO
Photo Credit: lastminute.com sponsor Lastminute.com has been a sponsor of the London Eye. Lastminute.com has a new CEO. JumpStory
Skift Take
Having your top executives jailed is one thing. But as that issue recedes, Lastminute.com needs to deal with its under-performance issues and execute on strategy shifts.
Rocked by a Covid relief financial scandal that led to the jailing and resignations of now-former CEO Fabio Cannavale and chief operating officer Andrea Bertoli, Amsterdam-based Lastminute.com's shareholders elected Luca Concone as an executive director, and he'll serve as CEO.
The company announced Thursday that it won't file an appeal, and will repay the Swiss government some 29 million euros (around $30.8 million), which authorities previously demanded, although the announcement didn't cite a specific figure.
The financial scandal dates to mid-July when Swiss authorities began investigating whether Lastminute.com executives mishandled governmental Covid relief funds.
In November, the Swiss government told Lastminute.com that it must repay 29 million euros. "The company had already added a conservative provision of EUR 34 million (about $36 million) into its Q3 2022 results," Lastminute.com said.
Cannavale and Bertoli, both of w
