UniCredit is looking for a new president, the former prime minister’s son is one of the favorites

RockedBuzz
By RockedBuzz 23 Min Read

The checklist of candidates that the board could deliver to the annual shareholder assembly is anticipated to incorporate a new candidate to succeed present chairman Pier Carlo Padoan, the sources mentioned. UniCredit didn’t wish to remark to the information company.

The financial institution is searching for to strengthen ties with the Roman authorities after CEO Andrea Orcel backed out of shopping for state-owned Monte dei Paschi di Siena in 2021.

According to the information company, Prime Minister Giorgia Meloni’s right-wing authorities has distanced itself from Orcelli and is not maturing his enterprise abilities acquired over three many years in funding banking, authorities sources beforehand advised Reuters.

The new chairman of the board of the financial institution group may assist strengthen relations with Rome, however the 73-year-old Padoan, who as an economist was finance minister underneath the center-left prime ministers Matteo Renzi and Paolo Gentiloni, is not thought-about appropriate for this process.

Among the successor candidates is the present head of UniCredit’s company governance and appointment committee, 73-year-old Lamberto Andreotti, the former CEO of Bristol-Myers Squibb, the son of the former a number of Italian Prime Minister, the Christian Democrat Giulio Andreotti.

Source: Reuters

Evolution of Unicredit’s trade price

chart 59037

Stock buying and selling, creating longer-term funding portfolios or pension portfolios a Portfolio Trader with the assist ofnc=0

Cover picture credit score: Emanuele Cremaschi/Getty Images

Share This Article
Leave a comment