Ex Fincantieri President Giuseppe Bono died Tuesday at the age of 78.

Calabria-born Bono had been at the helm of Italy's State-controlled shipbuilding giant from 2002, up to shortly before his death.

Born at Pizzoni in the province of Vibo Valentia in 1944, an economics graduate, Bono helmed Fincantieri from April 2002 until April of this year.

He moved there from State-controlled engineering group Finmeccanica, where he had been general manager from 1997 to 2000, and managing director for two more years.

He started his career in 1963 in the training unit of Fiat-Finmeccanica and then went to Omeca, in the same group, before moving to Efim from 1971 to 1993.

He is survived by a widow and two children.

Tributes flooded in from across the business and political world, led by Premier Giorgia Meloni who said "Italy is mourning him, it is a painful loss".