Glass Lewis Backs Fabrizio Palermo for Monte dei Paschi CEO
Glass Lewis urged MPS investors to back the board slate naming Fabrizio Palermo as CEO. This follows a similar recommendation from ISS for the April 15 vote.
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The proxy advisory firm Glass Lewis has recommended that investors in Monte dei Paschi di Siena (MPS) support a proposed board slate that would name Fabrizio Palermo as the new chief executive. Palermo, who currently serves as the CEO of the utility company Acea, is being put forward to lead the lender following its annual general meeting on April 15. The decision places him in competition with the current CEO, Luigi Lovaglio, for the top position at the bank, which is the third-largest financial institution in Italy.
