Orcel Signals Readiness for Third Term at UniCredit

(Alliance News) - Andrea Orcel, like Carlo Messina, is ready to remain at the helm.

"It will be up to the shareholders to decide if I will still be CEO, but I am very enthusiastic," the UniCredit chief executive told Bloomberg TV, confirming his willingness to take on a new mandate after 2030.

Following the results of the Unlocked plan, he explained, a new phase is beginning for him and his team, with the bank "excited and motivated" about its next objectives: "I have no other plans," he added.

Orcel also addressed the Commerzbank issue, in which UniCredit holds 26% plus an additional 3% in derivatives: "If shareholders decide to join what we do well, that's good; otherwise, we will continue on our own path. For us, buying back our own shares or those of others doesn't make much difference."

The German bank closed the year with EUR2.63 billion in profit – down 1.9% due to restructuring costs; without these, it would have been EUR3 billion.

CEO Bettina Orlopp will launch the sixth buyback since 2023 for EUR540 million, while the dividend will rise from EUR0.65 to EUR1.10 per share, with a total of EUR2.7 billion going to shareholders. Over EUR313 million could reach Piazza Gae Aulenti.

Overnight, UniCredit and the unions also reached an agreement on the new performance bonus: EUR2,770 – up 11% – including EUR88.70 for dental coverage and a one-off payment of EUR120 per employee. Starting January 2027, meal vouchers for full-time staff will increase from EUR8 to EUR10.

"Our success is the result of our people's commitment," commented Orcel, claiming the highest VAP in Italy.

"An agreement that confirms our commitment to employees and constructive dialogue with unions," added Ilaria Dalla Riva, Head of People & Culture Italy and COO Italy at UniCredit.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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