Generali, Caltagirone resigns from the board

MILAN – Francesco Gaetano Caltagirone resigns from the Board of Insurance General. And it is the second time, after its controversial release in mid-January, after over 12 years in which he had also been vice president. The company made it known, informing with a statement of a few lines that “the non-independent director Francesco Gaetano Caltagirone resigned from the board with immediate effect”, and that “the reasons were not disclosed”. Since the days following his appointment, which took place in the Generali assembly on 29 April, Caltagirone had continued to be critical of the functioning of the company’s governance, and on 12 May he had refused, together with the other two directors Marina Brogi and Flavio Cattaneo drawn from the his list came second behind that of the board of directors, to join the internal committees of the board. A choice motivated by sources close to the Roman entrepreneur with the fact that President Andrea Sironi’s proposal to eliminate the strategic committee within the board had been read as a possible strengthening of the powers of the CEO, Philippe Donnet.

A replacement in days, Roberta Neri in contention

Generali adds that “the board of directors will be convened in the next few days for any subsequent decision regarding his replacement”. According to the internal regulations, it could be the turn of the first unelected director on the Caltagirone list, who was candidate number four Roberta Neri, former CEO of ENAV and previously financial director of Acea. The board of directors was re-elected in the number of 13 members as in the last mandate, of which 10 were appointed from the list of outgoing directors, the other three from that of Caltagirone which had proposed an alternative management of the group. The company informs “as of today, the director Caltagirone, directly or through companies related to him, holds a share of the share capital of Assicurazioni Generali SpA equal to 9.95%”. Which makes it the second shareholder of Leone behind Mediobanca, which had presented itself at the meeting with 17.4% of the votes thanks to a securities loan but recently closed it, to return to the historic share of 12.9%.

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