(Alliance News) - Mediobanca's new board of directors, which will be reduced from 15 to 11 members, must be finalized by Friday, La Repubblica reports today.
At the first board meeting after the OPAS (86.3% result of the offer), chaired by Nicola Maione, discussions began on future directors and the new CEO, but there is still no agreement and no names have been agreed upon between Luigi Lovaglio and the main shareholders Delfin, Caltagirone, and Tesoro, the newspaper continues.
The nominations committee examined the list of candidates identified by Korn Ferry to succeed Alberto Nagel: among the names are Riccardo Mulone of UBS Italia, Francesco Pascuzzi of Goldman Sachs, Giorgio Cocini of Pimco, and Mauro Micillo of IMI. Issues remain regarding the remuneration package, especially for managers from US banks, adds Il Corriere.
The chairmanship is also to be defined, with Delfin in a key position: the favorite is former minister Vittorio Grilli, now at JPMorgan. Only after the appointments will the issue of integration with MPS be addressed, which could take up to a year.
Meanwhile, Generali - in which MPS holds a 13% stake - has extended negotiations with Bpce-Natixis until December 31, eliminating the €50 million penalty, although opposition from major shareholders suggests that the deal may be called off.
By Claudia Cavaliere, Alliance News reporter
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