Bondi to stand for election as chairman of Parmalat

Parmalat’s administrator, Enrico Bondi, has announced that he will be
standing to be chairman of the dairy company in board elections in two weeks’

Bondi was planning to step down after the company relisted this month, but
was persuaded to run for election by a group of investors headed by the Lehman

He has made it clear that his plans for the company are based around
strengthening it so that it can be a future acquirer.

‘My objective is to secure a clear and strong mandate to lead Parmalat into
the next phase of its development – establishing the group as the Italian-based
consolidator in the multinational food sector,’ he said in a statement to the

Parmalat creditors, who exchanged most of the group’s debt for shares in the
re-listing, will vote on the new board at a meeting on 7 and 8 November.

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