Francesco Gaetano Caltagirone, a number one investor in Generali, desires Italy’s high insurer to develop into an enormous multinational “with Italian sovereignty,” the enterprise tycoon was quoted as saying on Friday.
Generali is dealing with an influence battle over its board composition at a shareholder vote subsequent month.
When requested whether or not change was additionally wanted on the insurer’s high shareholder Mediobanca, Caltagirone instructed each day Il Sole 24 Ore he was targeted solely on Generali.
Caltagirone, along with entrepreneur Leonardo Del Vecchio, Generali’s third largest investor, are opposing the reappointment of the insurer’s present chief government Philippe Donnet as they problem the affect of Mediobanca.
The outgoing board has put ahead Donnet for a 3rd time period as CEO and nominated Andrea Sironi, a number one worldwide knowledgeable in governance and threat administration who has served as dean of Milan’s Bocconi College, as new chairman. These nominees are backed by Mediobanca.
Caltagirone has submitted his personal slate of nominees proposing Generali’s head of Austria and CEE nations, Luciano Cirina as CEO and Claudio Costamagna, a former Goldman Sachs banker and former chairman of Italian state investor CDP, as chairman.
Cirina and Costamagna plan to carry a information convention afterward Friday.
Within the interview, Caltagirone mentioned that Cirina and Costagnamagna are complementary and can current a method for the insurer, not but an in depth marketing strategy.
(Reporting by Claudia Cristoferi and Stefano Bernabei, writing by Maria Pia Quaglia, enhancing by Agnieszka Flak)
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