Ferrovie dello Stato Confirms CEO Resignation in 2026

ROME, ITALY – Stefano Donnarumma has stepped down as CEO and managing director of Ferrovie dello Stato Italiane (FS), Italy’s state-owned railway group, following months of friction with the government of Prime Minister Giorgia Meloni. The Board of Directors acknowledged the resignation in June 2026, capping a tenure of under two years that began in June 2024. CFO Fabio Paris and two board members — Tiziana De Luca and Caterina Belletti — have also submitted resignations, signalling a broader governance overhaul.

What Is the Full Scope of This Development?

Donnarumma’s departure triggers a multi-position leadership vacuum at FS Group. Beyond the CEO role, CFO Fabio Paris is set to join Open Fiber, while board members Tiziana De Luca and Caterina Belletti have resigned, with Belletti appointed to lead FS International. Gianpiero Strisciuglio, current head of Trenitalia, is the leading candidate to replace Donnarumma as group CEO. Trenitalia operates high-speed, intercity, and regional passenger services and is the group’s most commercially visible subsidiary. The government, through Infrastructure and Transport Minister Matteo Salvini, met with Donnarumma immediately before the resignation was formalised.

Key Development Data

How Does This Compare to Industry Trends?

Donnarumma’s removal aligns with a pattern across European state-owned rail operators where political dissatisfaction over service reliability forces leadership changes. In France, SNCF has cycled through three CEOs since 2019, each departure coinciding with strike waves or punctuality crises. At Deutsche Bahn, Richard Lutz faced repeated no-confidence motions from the German transport ministry before restructuring announcements in 2024. The Italy case diverges in one respect: FS posted intermodal freight volume growth of 1.5% to 14.06 million units in 2025, the second-highest annual total on record, driven by consumer-related freight demand and international trade flows. (Source: Logistics Management, 2025). The timing of Donnarumma’s exit — against a backdrop of operational growth in freight — underscores that the government’s grievances centred on passenger-service disruptions from modernisation works funded through the National Recovery and Resilience Plan, rather than commercial underperformance.

Editor’s Analysis

Donnarumma’s departure reveals a structural tension between Italy’s €200B-plus infrastructure modernisation agenda and the political cost of construction-phase disruption. The Supreme Court’s upholding of convictions in the 2009 Viareggio accident — including that of former FS CEO Mauro Moretti — adds a layer of legal accountability that shadows every senior FS appointment. Elevating Trenitalia’s Gianpiero Strisciuglio would represent a continuity play from within the operational core of the group, prioritising domestic service delivery expertise over external capital strategy at a moment when the Meloni government seeks tighter control over major state-owned enterprises. The parallel resignations of the CFO and two board members suggest the restructuring extends beyond a single executive departure to a fundamental realignment of FS governance architecture.

FAQ

Q: Why did Stefano Donnarumma resign as CEO of Ferrovie dello Stato Italiane?
A: Donnarumma resigned after months of tensions with the Meloni government over repeated rail network delays caused by maintenance and modernisation works, plus disagreements over strategic decisions including integration of railway-sector companies and his push to attract foreign investment into the high-speed segment.

Q: Who is the favourite to replace Donnarumma at FS Group?
A: Gianpiero Strisciuglio, current head of Trenitalia, is the leading candidate. His appointment would keep FS leadership within the Italian railway system and prioritise operational continuity at a time of political and service-quality pressure.

Q: What does this resignation mean for passengers using Italian rail services?
A: FS stated it remains committed to its industrial plan and investment programmes. However, no immediate changes to service schedules or modernisation timelines have been confirmed. The network disruptions linked to National Recovery and Resilience Plan-funded works are likely to continue regardless of the leadership transition.

Q: How does the Viareggio accident ruling connect to this resignation?
A: The two cases are not directly linked, but the Supreme Court’s upholding of convictions — including that of former FS CEO Mauro Moretti — brings rail safety and managerial accountability back into public focus at a politically sensitive moment for FS governance.