Italy's Generali loses third board director since mid-January

Caltagirone SpA

25/01/2022 12:21

MILAN, Jan 25 (Reuters) - Italy's biggest insurer Generali
 GASI.MI  said on Tuesday Sabrina Pucci had resigned from its
board for personal reasons, the third director to step down in
less than two weeks.
    Generali's second-largest shareholder Francesco Gaetano
Caltagirone quit the board on Jan. 13, followed days later by a
representative for Leonardo Del Vecchio, the group's
third-biggest investor.  urn:newsml:reuters.com:*:nL4N2TT455
    Del Vecchio and Caltagirone oppose the proposed
reappointment of Generali CEO Philippe Donnet in a challenge to
the insurer's single biggest shareholder Mediobanca  MDBI.MI ,
people with knowledge of the matter have said.
    In quitting the board, both criticised the steps followed by
the insurer to renew the board, whose mandate expires in April.
    Pucci, an independent board member, in September had voted
against a resolution by Generali's board to file a slate of new
board nominees for shareholders to vote upon in the spring -
including Donnet as CEO. 
    In December, however, she backed Donnet's strategic plan,
which was rejected instead by Caltagirone.
    Following a query by Caltagirone, Italy's market regulator
Consob on Friday concluded a review of Generali's board
nomination procedure, deeming it legitimate.   urn:newsml:reuters.com:*:nL1N2U1295
    

 (Reporting by Gianluca Semeraro; editing by Valentina Za)
 ((gianluca.semeraro@tr.com; +39 06 80 307 741;))