The board of Generali on Monday reappointed Philippe Donnet as chief government with 10 votes in favor out of 13, two sources mentioned, after a gaggle of insurgent Italian buyers looking for to oust him misplaced out in a shareholder vote final week.
The 2 sources with information of the matter mentioned Francesco Gaetano Caltagirone, who led the opposition to Donnet and is Generali’s No.2 investor with a 9.95% stake, voted towards his reappointment. Generali declined to remark.
One other of the three administrators that Caltagirone has managed to nominate to Generali’s board additionally voted towards, whereas the third one abstained. Tutorial Andrea Sironi received unanimously appointed as chairman, one of many sources mentioned.
Monday’s board vote over Donnet’s third time period as CEO at Generali was seen as the primary check of whether or not investor tensions on the coronary heart of Europe’s third-largest insurer would subside after Friday’s shareholder verdict.
(Reporting by Gianluca Semeraro and Stefano Bernabei; writing by Valentina Za)
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