MILAN, July 22 (Reuters) – Shareholders representing about 16% of Generali (GASI.MI) are able to ask the chief government to not current a 2022-2024 marketing strategy, a transfer that may problem the insurer’s management, every day La Repubblica reported on Thursday.
Generali’s CEO Philippe Donnet, whose mandate involves an finish in spring subsequent 12 months, is because of current a brand new marketing strategy in December.
Italian businessmen Francesco Gaetano Caltagirone and Leonardo Del Vecchio, along with Edizione, the holding firm of the highly effective Benetton household, and banking basis Fondazione CRT, are getting ready to ask Donnet to not submit his new strategic plan, the paper mentioned.
Tensions amongst buyers in Italy’s largest insurer have been rising earlier than the renewal of the board subsequent 12 months.
Caltagirone, whose enterprise empire spans development to publishing, is the second-largest shareholder in Generali. He not too long ago raised his stake in Mediobanca , Generali’s prime investor with a 13% stake.
The entrepreneur snubbed the corporate’s annual normal assembly in April within the first public signal that he’s sad with the steadiness of energy amongst shareholders, sources have mentioned.
His twin investments in Mediobanca and Generali mirror these of fellow billionaire, Leonardo Del Vecchio, the 86 year-old founding father of spectacles big Luxottica and the third-largest investor in Generali. Del Vecchio has additionally been crucial of among the insurer’s strategic strikes up to now 12 months. Earlier this month he raised his Mediobanca stake to 18.9%
Caltagirone, Leonardo del Vecchio and the Benetton household declined to touch upon the report when contacted by Reuters.
Fondazione CRT was not instantly out there for remark.
Generali declined to remark.
Reporting by Maria Pia Quaglia and Stefano Bernabei; Enhancing by Edmund Blair
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