Generali specifies that, as communicated to Mr. Luciano Cirina, during this period of suspension all statutory or contractual obligations relating to his Employment Relationship remain fully valid such as all responsibilities related to the protection of confidential company information, continued compliance with all internal rules and policies including rules defining relations with the media, financial analysts, rating agencies, investors and authorities, which are to be exclusively managed by specifically designated functions within the Company.
As reported by Reuters a week ago, Cirina was nominated as candidate for the CEO position, together with Claudio Costamagna, a former Goldman Sachs banker and former chairman of Italian state investor CDP, as Chairman of the Board, by a pool of major shareholders that are trying to challenge this way the influence of Mediobanca, another major shareholder of the Italian insurer, with an about 17% stake. Opposed to this proposition, the outgoing Board supports the idea of renewing the mandate of current CEO Philippe Donnet for a third term, while for the Chairman position have nominated Andrea Sironi, a leading international expert in governance and risk management, former dean of Milan's Bocconi University.
The appointment of a new Board of Directors will take place at the Annual General Meeting of shareholders, on 29 April.
[s|onthemove]
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