(Alliance News) - BFC Media Spa announced Wednesday that on Tuesday evening CEO Marco Forlani resigned for unexpected personal reasons, resigning all the proxies assigned to him.

The resignation takes effect at midnight on July 10, 2023, and follows his resignation from the board of directors of L'Espresso Media Spa, which was communicated to the company in recent weeks.

Based on communications made to the company and the public, Forlani does not hold shares in BFC Media.

"The board of directors will continue its mandate, ensuring the unfolding of the group's strategic path until its natural expiration, scheduled with the shareholders' meeting called to approve the financial statements as of December 31, 2024," a note reads.

BFC Media's stock is flat at EUR4.20 per share.

By Chiara Bruschi, Alliance News reporter

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