Key Points
MILAN, Dec 5 (Reuters) - UniCredit's (CRDI.MI) board is working to pick by early January a new candidate to chair the Italian bank as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said...
The list of nominees the board will propose to the annual shareholder meeting is expected to include a new candidate to succeed current Chairman Pier Carlo Padoan, the sources said, asking not to be named as the information is confidential...
Prime Minister Giorgia Meloni's rightist administration is wary of Orcel and the dealmaking skills he honed over three decades in investment banking, government sources have previously told Reuters...
The board's new chair could help strengthen ties with Rome but Padoan, 73, an economist who was finance minister under centre-left prime ministers Matteo Renzi and Paolo Gentiloni, is seen as ill suited in that respect...
However, a separate person with knowledge of the matter ruled out Saviotti as well as another former investment banker, Massimo Tononi, who currently chairs Banco BPM's board and has been mentioned in the Italian press.. Daniele Franco, who served as economy minister with Meloni's predecessor Mario Draghi, is also a possible option but his chances are slim, the sources said...
