Some Generali investors to ask CEO not to present new business plan, report says
MILAN, July 22 (Reuters) – Shareholders representing about 16% of Generali (GASI.MI) are ready to ask the chief executive not to present a 2022-2024 business plan, a move that would challenge the insurer’s leadership, daily La Repubblica reported on Thursday.
Generali’s CEO Philippe Donnet, whose mandate comes to an end in spring next year, is due to present a new business plan in December.
Italian businessmen Francesco Gaetano Caltagirone and Leonardo Del Vecchio, together with Edizione, the holding company of the powerful Benetton family, and banking foundation Fondazione CRT, are preparing to ask Donnet not to submit his new strategic plan, the paper said.
Tensions among investors in Italy’s largest insurer have been rising before the renewal of the board next year.
Caltagirone, whose business empire spans construction to publishing, is the second-largest shareholder in Generali. He recently raised his stake in Mediobanca ,…