MILAN (Reuters) – The board of Cattolica Assicurazioni
It said all of the chief executive’s powers had been transferred to the insurer’s Managing Director Carlo Ferraresi.
Minali, a former CFO at bigger rival Generali
A source close to the matter said Minali had been at odds for some time with Cattolica’s chairman, Paolo Bedoni, on a number of issues including the possibility of transforming the cooperative insurer into a joint stock company – a plan backed by Minali but opposed by Bedoni.
Minali’s stance towards the board of directors had become “neither smooth nor positive”, the company said in a statement.
It was not immediately possible to reach Minali for comment.
(Reporting by Elvira Pollina and Andrea Mandala, editing by Silvia Aloisi and Alexandra Hudson)