(Alliance News) - Matteo Del Fante could be set to lead Poste Italiane for a fourth consecutive term, Reuters reported on Tuesday.

A former JPMorgan banker, Del Fante was first appointed CEO of the company in 2017. According to reliable sources, he could see his appointment confirmed next April as the Italian government manages a series of leadership changes across major state-controlled entities.

Under his leadership, Poste Italiane has tripled its profit thanks to the e-commerce boom. He also oversaw the investment in Telecom Italia, in which Poste is a majority shareholder.

The Italian Treasury holds a 29% stake, while 35% is held by Cassa Depositi e Prestiti.

Poste Italiane shares closed up 1.9% at EUR21.87 per share on Tuesday.

By Michele Cirulli, Alliance News reporter

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