Monte dei Paschi Board Appoints Lovaglio Supporters
Directors at the Italian bank are expected to award all key board roles to allies of CEO Luigi Lovaglio today. This move secures his strategy for Mediobanca.
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Newly appointed directors at BANCA MONTE DEI PASCHI SIENA were expected to consolidate power on Thursday by awarding all critical board positions to allies of reinstated Chief Executive Luigi Lovaglio. This move follows a decisive shareholder vote on April 15 that returned Lovaglio to his leadership role, reversing a previous board decision in March to remove him amid internal conflicts over corporate strategy.
