Delfin Board Fully Supports Lovaglio’s Reinstatement as MPS CEO
Key Developments in Delfin's Support for MPS Leadership
Unanimous Decision by Delfin Board
PARIS, April 28 (Reuters) - A decision by Monte dei Paschi di Siena's largest shareholder Delfin to vote in favour of the reinstatement of CEO Luigi Lovaglio at the helm of the Tuscan bank was taken unanimously by Delfin's board, its chairman said.
Delfin’s Corporate Structure and Leadership
Delfin is the holding company of the Del Vecchio family and is chaired by EssilorLuxottica CEO Francesco Milleri.
The Role of Delfin’s Vote in MPS Leadership
Delfin's vote was decisive in helping Lovaglio take back the top job at MPS - a move opposed by the bank's second largest shareholder, Francesco Gaetano Caltagirone.
Delfin’s Investment Philosophy
"As Delfin we have said this a thousand times: we are not interested in individuals or in (companies') governance. We are interested in results,” Milleri told reporters on the sidelines of EssilorLuxottica shareholders’ meeting in Paris.
Delfin’s Stake in MPS
Delfin is the largest MPS investor with 17.5%.
Background: MPS Boardroom Developments
Investors in MPS on April 15 handed back the reins of the world's oldest bank to ousted boss Lovaglio, settling a boardroom clash that followed last year's takeover of rival Mediobanca.
(Reporting by Elisa Anzolin; Editing by Valentina Za)
