Leonardo Drops With Italy Ready to Replace Defense Firm’s CEO

Leonardo SpA shares fell the most in nearly eight months as the Italian government prepared to oust Chief Executive Officer Roberto Cingolani, who has led a turnaround at Italy’s largest defense contractor.

Shares of the aerospace and defense manufacturer traded 7.2% lower as of 2:26 p.m. Tuesday in Milan. They fell as much as 7.9% earlier, for their biggest intraday drop since mid-August.