⁍ Mediobanca’s current chief executive Alberto Nagel is set to be confirmed in his role for three more years.
⁍ A majority of the Italian bank’s shareholders on Wednesday backed candidates for the board which included him.
⁍ Under Nagel, Mediobanca has moved away from its historic role as a financial holding company.
– Italian bank Mediobanca is set to reappoint CEO Alberto Nagel for another three years after a majority of shareholders at its annual general meeting on Wednesday backed candidates put forward by the outgoing board, reports Reuters. Nagel had faced criticism from billionaire Leonardo Del Vecchio, the bank’s main investor, who owns 10.2% of the bank. But at the meeting, Del Vecchio voted in favor of directors put forward by a group of professional investors, not the one that included Nagel, sources say. Del Vecchio’s decision is seen as a sign of easing tensions with the CEO, as the list of directors he voted for confirms two members of the outgoing board. Nagel is expected to be confirmed as CEO of the bank at a board meeting on Thursday.
Source: https://www.reuters.com/article/italy-mediobanca-board/update-1-mediobanca-investors-back-new-three-year-term-for-ceo-source-idUSL8N2HJ4VX