Bernardo Mingrone Appointed as New Group CEO

WHY THIS MATTERS: The leadership transition at Nexi marks a crucial strategic inflection point for Europe’s largest payments processor. Outgoing CEO Paolo Bertoluzzo successfully executed a decade of M&A and consolidation, establishing a true European payments powerhouse. The appointment of Bernardo Mingrone signals a shift from integration to intensive execution. His core mandate is to leverage Nexi’s unique scale and cash generation capabilities to fend off global competitors—namely US acquirers—while navigating the region’s accelerated push for instant payments infrastructure. For merchants and financial institutions across the continent, this change determines who sets the pace for innovation in digital payments and whether European firms can sustain their advantage against global rivals in a fiercely competitive processing landscape. This is a bellwether for the long-term viability of scaled, continental payment leaders.

The Board of Directors of Nexi S.p.A., which met under the chairmanship of Marcello Sala, has named Bernardo Mingrone as Chief Executive Officer and General Manager of the Group. Bernardo Mingrone, Deputy General Manager and CEO of Nexi Payments, succeeds Paolo Bertoluzzo, who led over the past 10 years the Group’s transformation journey.

Chairman Marcello Sala commented: “Bernardo Mingrone is the most suitable person to lead Nexi in its next phase of development. He has a deep knowledge of the Group and brings a proven track record of execution in complex and evolving environments. We are confident that he will further build on the Group’s solid foundations and strengthen its positioning as a European leader in digital payments. On behalf of the entire Board of Directors, I would also like to thank Paolo Bertoluzzo for his contribution to Nexi’s growth and transformation journey, which has led the Group to become today a strategic infrastructure for Europe.” 

Bernardo Mingrone, newly appointed Group CEO of Nexi, said: “I would like to thank the Board of Directors and our shareholders for the trust they have placed in me. Nexi plays an essential role in the payments ecosystem and is built on solid foundations: a unique European scale, strong cash generation capabilities and significant growth potential, in a rapidly evolving market. I am honoured to lead the Group in this new phase of its journey and determined to fully capture its opportunities, alongside our clients and partners across Europe. I am confident that, thanks to the quality and commitment of our people, we will continue to strengthen our positioning and create value over time.”

Paolo Bertoluzzo commented: “I am proud of what we have achieved over the past 10 years, transforming Nexi from a small local player into a European leader in digital payments, with strong Italian roots and a unique positioning and capabilities. Our continued investments in technology, innovation and people have enabled Nexi to steadily grow revenues and margins, with an EBITDA increased beyond Euro 1.9 billion, accelerate cash generation beyond Euro 800 million and begin returning capital to shareholders. I am pleased that the leadership baton is being passed to Bernardo, who will best interpret this new phase of the company. I would like to thank the Board of Directors for its constant support. Above all, I would like to thank Nexi’s people: it is only thanks to their extraordinary expertise, passion and energy that this successful journey has been, and will continue to be, possible.” 

Following the resignation of Paolo Bertoluzzo, effective today, as Director and General Manager by reason of reaching an agreement with the Company to this end, the Board of Directors, subject to the favourable opinion of the Board of Statutory Auditors, has coopted Bernardo Mingrone as a Director of Nexi.  

The agreement with Paolo Bertoluzzo, approved by the Board of Directors in relation to the termination of his executive employment relationship and offices, in full compliance with the current remuneration policy (including with respect to the malus and claw-back mechanisms applicable to the variable remuneration), provides for the payment, by the end of April 2026, of a lump-sum amount equal to 24 months of gross remuneration and the 2026 MBO bonus calculated on a pro rata temporis basis. 

The agreement also provides for the pro rata maintenance of participation in the LTI plans, in accordance with the relevant plan rules. Following changes in Nexi’s ownership structure, the Directors Luca Bassi (nonindependent), Elena Dimanina (non-independent, member of the Remuneration and Nomination Committee) and Enrico Trovati (non-independent) have also resigned.

As a result, today the Board of Directors – upon proposal of Evergood H&F Lux S.à r.l. pursuant to the existing shareholders’ agreement and subject to the favourable opinion of the Board of Statutory Auditors – has co-opted Alessandro Daffina, Saba Nazar and Luca Velussi as Directors of Nexi. 

Alessandro Daffina and Saba Nazar have declared that they meet the independence requirements set out in Article 148, paragraph 3 of the Consolidated Law on Finance (TUF), as referred to in Article 147-ter, paragraph 4 of the TUF, as well as the independence requirements under the Corporate Governance Code. 

The Company will proceed with the assessment of the independence requirements of the directors who declared to meet the same. Luca Velussi has therefore been appointed as a member of the Company’s Remuneration and Nomination Committee. The confirmation of the Directors co-opted today will be submitted to the Shareholders’

Meeting convened for 29 April 2026. 

The curricula vitae of the newly appointed Directors are available on Nexi’s website at https://www.nexigroup.com/en/group/governance/corporate-bodies/. 

FF NEWS TAKE: A leadership change at a payments processor with Nexi’s geographic footprint fundamentally moves the needle for Europe. Mingrone inherits a complex, scaled platform built through relentless M&A. The critical question is whether he prioritises organic growth and deeper technological integration or pursues further consolidation across the continent. We will be closely watching for any strategic shifts regarding Nexi’s long-term capital allocation and its definitive stance on the competitive friction emerging from the European Payments Initiative (EPI).

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