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Generali, discussion between shareholders on governance

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September of work for the future governance of Generali. After the summer break, the discussion reopens and the contacts and phone calls between the shareholders on the hot dossier of the definition of the new top management resume, since the current one is due to expire with the approval of the financial statements for the 2021 financial year. therefore, expect intense days after the Board of Directors of Generali decided on 2 August last year to start preparatory activities for the procedure for the definition of any list of candidates by the Board itself. Procedure that will be submitted to the Board for examination at the meeting scheduled for 27 September next. For this reason, the nominations committee, which could soon have a confrontation with the CEO Philippe Donnet, went to work to present its own proposal to the board. The nominations committee includes, among others, Clemente Rebecchini (Mediobanca), Francesco Gaetano Caltagirone and Romolo Bardin, representative of Del Vecchio. At the moment, it is difficult to predict whether a list of the board of directors can be presented. The alternative would be the presentation of three lists, headed, respectively, by Mediobanca, Caltagirone and Assogestioni. A game, therefore, completely open that sees lined up on the field those who, like Caltagirone, push for change in governance and the front of those who in Mediobanca’s orbit are more in favor of a solution of continuity. Meanwhile, if Generali’s number one is not reconfirmed, the option of a manager within the group could also take shape. There may also be the appointment of a general manager on the table. One of the rumors circulating, in fact, is that of the appointment of Luciano Cirinnà, who leads Austria, Cee & Russia, the new CEO, and Sandro Panizza, group chief insurance & investment officer, as CEO. But among the other ‘internal’ names there would be those of Giovanni Liverani, CEO of Generali Germany and Marco Sesana, CEO of Generali Italia. However, there are other names of ‘outsiders’ such as Mario Greco, now at the helm of Zurich, Matteo Del Fante, CEO of Poste Italiane.

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