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Ferruzzi Chairman Resigns: Raul Gardini, one of...

From Times Staff and Wire Reports

Ferruzzi Chairman Resigns: Raul Gardini, one of Italy’s wealthiest and most flamboyant tycoons, resigned as chairman of the agro-industrial Ferruzzi Group, saying he was turning his back on the business world. Ferruzzi shot to fame last year when regulators, fearing the Chicago soybean market was being cornered, ordered the Italian grain trading firm to unload some of its contracts. Gardini’s move was announced shortly after his Montedison SpA company sold its 40% stake in troubled chemicals joint venture Enimont to the state-controlled ENI energy group. In a statement, Ferruzzi said the resignation “was the first step of his personal decision, for ideological reasons, not to participate from now on in any national economic society or association.”


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