Generali
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Who will lead Italy’s 191-year-old insurer over the next three years? Analysts have their say. -
Andrea Sironi has been appointed as an independent director and will be put forward as the board’s candidate for chairman.
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Analysts have told this publication that the wranglings at Generali are likely to be “more than about personalities – they're about the creation of value”.
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The Italian insurer’s board has experienced a string of resignations in recent weeks.
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The carrier has bought out positions in Future Generali India Insurance and Future Generali India Life.
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Sabrina Pucci’s resignation follows that of Francesco Gaetano Caltagirone and Romolo Bardin.
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Alejandro Muñiz will be responsible for revamping GC&C’s global construction practice.
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The board meeting followed the resignation of directors Caltagirone and Bardin in the wake of a power struggle at the Italian carrier.
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Romolo Bardin’s resignation is the second in just a matter of days as the turmoil between Generali and its investors continues.
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Chairman Galateri di Genola expressed “deep regret and surprise” at the departure.
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The carrier has announced its first share-buyback programme in 15 years, targeting EUR500mn of stock repurchase.
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The Caltagirone Group holds a 7.6% stake in Generali, while Delfin Sarl, steered by Leonardo Del Vecchio, has a 6.1% stake.
