General, Caltagirone resigns from the Board of Directors

AC Milan – Francesco Gaetano Caltagirone Resigns from the insurance board public. And this is the second time, after its controversial release in mid-January, after it ended 12 years he’s been vice president, too. The company made it clear, reporting in a few-line statement that “non-independent director Francesco Gaetano Caltagirone has resigned from the Board of Directors with immediate effect,” and that “the reasons have not been disclosed.” Since the days following his appointment, which was held in the general assembly on April 29, Caltagironi continued to criticize the performance of the company’s governance, and on May 12 he refused, along with other directors Marina Bruggi and Flavio Cattaneo came from his list second only to the Board of Directors to join the committees Council interior. The selection was motivated by sources close to the Romanian businessman with the fact that President Andrea Cerrone’s proposal to abolish the Strategic Committee within the Board of Directors has been read as a possible strengthening of the CEO’s powers, Philippe Dunnet.

Substitute in days, Roberta Neri in contention

And Generali adds that “the board of directors will meet in the next few days to take any subsequent decision on his replacement.” According to bylaws, the role of the first non-elected director on the Caltagirone roster, who was candidate number four Roberta Neri, former CEO of ENAV and former CFO of Acea, may be in the role. The Board of Directors was re-elected in number of 13 members as in the last term, 10 of whom were appointed from the list of outgoing directors, and the other three from the list of Caltagirone which proposed an alternative management of the group. The company reports, “As of today, the director of Caltagirone owns, directly or through its associated companies, a share in the capital of Assicurazioni Generali SpA equal to 9.95%.” Which makes it the second shareholder in Lyon after Mediobanca, which presented itself at the meeting with 17.4% of the vote thanks to a stock loan but closed it recently, returning to the historical stake of 12.9%.