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Generali investor Benetton to vote for alternative CEO candidate – paper – Metro US

Generali investor Benetton to vote for alternative CEO candidate – paper

FILE PHOTO: The Generali logo is seen on the company’s
FILE PHOTO: The Generali logo is seen on the company’s Tower, designed by Iraqi-British architect Zaha Hadidat, at the Milan’s CityLife district

ROME (Reuters) – Italy’s Benetton family, a shareholder in insurer Generali, has decided to vote for the slate of candidates submitted by a challenger investor and not in favour of current management, daily Il Sole 24 Ore reported on Wednesday.

“The unanimous decision was made last Friday… the Benetton family has chosen to support the list presented by Gaetano Caltagirone,” the financial newspaper reported citing financial sources.

Shareholders in Italy’s biggest insurer vote next Friday to name a new board and settle a shareholder fight that has seen the reappointment of Chief Executive Philippe Donnet challenged by a group of leading Italian investors.

A spokesperson for the holding company of the Benettons, which holds just under 4% in Generali, declined to comment on the report.

(Reporting by Giulia Segreti, editing by Maria Pia Quaglia)

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