Franco Migliacci, president of Italian collecting society SIAE, resigned yesterday (May 11) with immediate effect.

Franco Migliacci, president of Italian collecting society SIAE, resigned yesterday (May 11) with immediate effect. The society will be run by an interim president Silvano Gauriso, who is one of the five members of its governing body.

According to a statement issued by the Ministry of Cultural Heritage and Activities, to which SIAE effectively reports, Migliacci's resignation is motivated "by a desire to heal the society's current internal divisions."

The 75-year-old Migliacci, whose song-writing credits include the co-authorship, with Domenico Modugno, of the 1958 international hit, “Volare (Nel Blu Dipinto di Blu),” was appointed to the post in June 2003. From 1999-2003, the society had been run by specially-appointed government commissioner Mauro Masi, who was called in to redress the society's troubled financial situation.

SIAE's finances appear to have deteriorated in recent months. Sources suggest that a special government commissioner could be appointed again. It remains to be seen whether Migliacci's resignation will prevent this.