Mediobanca Backs Generali CEO Donnet for Another Term
MILAN (Reuters) -Italy's Mediobanca, Generali's top investor, said on Friday it had proposed another term for CEO Philippe Donnet at the helm of the country's biggest insurer.
Generali's investors will vote in a new board on April 24 and Mediobanca's move regarding Donnet was expected.
The insurer's second- and third-largest insurers have expressed opposition to Donnet.
Mediobanca also proposed another term for Generali's chairman Andrea Sironi.
A group of Italian fund managers said on Friday it would put forward four candidates for the new board of Generali, adding to uncertainty over the outcome of the vote.
The move by the fund manager group, which owns around 0.7% of the insurer, increases the chance of a fractured board.
(Reporting by Sara Rossi, editing by Gavin Jones)
