(Alliance News) - The board of directors of Banca Monte dei Paschi di Siena has received approval from the European Central Bank for its new bylaws introducing the "board slate" mechanism for appointments, and has endorsed its own list of candidates for the renewal of the board, according to La Repubblica on Thursday.
The slate, defined by the nominations committee, excludes CEO Luigi Lovaglio and nominates Nicola Maione for the chairmanship, a decision set to be formalized at the shareholders' meeting on April 15. In its statement, the bank cited the need for a "break with the past" in management, the newspaper reports.
Among the twenty candidates included on the list – from which up to twelve directors will be chosen – are three potential CEOs: Fabrizio Palermo, Carlo Vivaldi, and Corrado Passera.
The slate was approved with 11 votes out of 14: Lovaglio and independent director Giuseppina Barzaghi voted against, while Barbara Tadolini, a representative of Delfin, did not participate in the vote.
According to Repubblica, Lovaglio's future remains uncertain, with some sources suggesting he could appear on an alternative slate submitted by individual shareholders by March 24.
Meanwhile, the integration process with Mediobanca continues: on March 10, the boards of the two banks are expected to approve the share exchange ratios for incorporating the remaining 13.5% of Mediobanca not tendered in the public exchange offer into MPS, with Mediobanca subsequently being delisted.
By Claudia Cavaliere, Alliance News reporter
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