italy Archives

Mario Draghi forms new government in Italy

Draghi to create green ‘superministry’ for Italian recovery

Draghi to create green ‘superministry’ for Italian recovery Former ECB boss looks to tap €200bn in EU funds Newly appointed Italian Prime Minister Mario Draghi is creating a green ‘superministry’ that will be tasked with overseeing the country’s transition to sustainable energy. According to press reports, this division will be overseen by physicist Roberto Cingolani […]

Invisible democracy hits Italian board slates

Investment bank Mediobanca is said to have reached a unanimous agreement on the Assicurazioni Generali board list which will include a new chairman for Europe’s third biggest insurer. Generali is, as the FT puts it “arguably Italy’s most important financial institution” and Mediobanca “did not even bother to announce formally its nominees for the top positions […]

Italian mergers, boards & governance – possibly not the best way

Intesa Sanpaolo, Italy’s biggest retail lender and the by-product of the takeover of Sanpaolo IMI by Banca Intesa is an excellent case study of a) how not to construct a post-merger board and b) how not to engage with shareholders and c) why EU shareholder reforms can’t come too quickly. The bank operates what can only […]

Italian proxy system “backward” and “third world” says shareholders

Although the EU Shareholder Rights Directive was meant to have been fully implemented by 3 August 2009 at the latest, Italy is only just now mulling over shareholder responses to its the second consultation which was launched on 24 July 2009 and closed on 18 September 2009. Over 20 consultation responses have been published, with […]

Fiat extends Board slate nomination deadline

Fiat has extended the deadline for the submission of slates of candidates for its Board of Directors and Board of Statutory Auditors, to be elected at the AGM on 27 March. With reference to the forthcoming General Meeting of Shareholders, the Company hereby reports that, according to law and the By-laws, candidate lists for election […]

Board slate nominations open at Fiat

Fiat has released its notice of AGM, with the first call due to be on 26 March and the meeting expected to be held on the second call on Friday 27 March. With the board structure following the traditional Italian model, the AGM will include the election of both the Board of Directors and the […]