Nexi CEO Steps Down, Bernardo Mingrone Takes the Helm

Change is underway at Nexi, a leading European payments group, as Paolo Bertoluzzo has stepped down as CEO after 10 years. His replacement is Bernardo Mingrone, previously the Deputy General Manager, Finance & Transformation, and CEO of Nexi Payments.

Stock Market Performance and Shareholder Shifts

The leadership transition comes amidst a challenging period for Nexi. The company’s stock has experienced a significant decline, falling 40% in the last year and 83% from its peak. This downturn has coincided with shifts in the company’s shareholder base. Early investors Bain, Advent, and Clessidra have exited their positions, making way for Hellman & Friedman (22.23%) and Cassa Depositi e Prestiti (19.14%) as key reference partners.

Factors Accelerating the Transition

Several factors likely contributed to the timing of Bertoluzzo’s departure. A 16.6% drop in the stock market followed the presentation of Nexi’s new industrial plan in early March. Rumors of Mingrone potentially leaving for Tinexta may have too played a role. Bertoluzzo will receive a severance package of 3 million euros plus accrued 2026 bonuses.

Mingrone’s Vision for Nexi

Mingrone’s appointment is intended to ensure continuity, as he has been with the group since 2016. He emphasized Nexi’s crucial role in the payments ecosystem, highlighting its European scale, strong cash generation, and growth potential in a rapidly evolving market. “I am determined to fully exploit the group’s opportunities alongside our customers and partners across Europe,” Mingrone stated.

Support from Chairman Sala

Marcello Sala, Chairman of Nexi, expressed confidence in Mingrone’s ability to lead the company through its next phase of development. He praised Mingrone’s deep understanding of the group and his proven track record in complex environments. Sala also thanked Bertoluzzo for his contributions to Nexi’s growth and transformation.

Bertoluzzo’s Reflections and Board Changes

Bertoluzzo expressed pride in transforming Nexi into a European payments leader with strong Italian roots. Following the change in Nexi’s shareholding structure, Luca Bassi, Elena Diamina, and Enrico Trovati have left the board of directors. Alessandro Rivera (Rothschild & co Italia), Saba Nazar (Bank of America), and Luca Velussi (H&F) have been appointed as independent directors.