The upcoming board renewal at Assicurazioni Generali SpA is in place in case the retired board of Italian insurance giant decides to present its own list of candidates.
“At a meeting chaired by Gabriele Galatelli di Genora, the Generali Insurance Company’s Board of Directors (BoD) approved the process of presenting slate for the upcoming Board of Directors renewal, with a majority in favor. It is subject to change if there is a potential request from the supervisory authority, “the insurer said in an update.
According to the Articles of Incorporation of General Insurance Company, the list of candidates is eligible to be presented by shareholders who represent at least the minimum percentage of equity capital envisioned by current law and BoD.
If the retiring board submits the list, the approved rules of procedure will apply.
The phase of the procedure includes self-assessment by BoD and orientation advice on its optimal qualitative-quantitative composition. Beginning of the presentation process by the Outgoing Committee. Prior consultation with major shareholders. Candidate selection; and list preparation.
This development takes place in speculation about the future of the Group’s CEO Philippe Donnet. It was previously reported that certain investors at Generali Insurance Company may propose a new board lineup in 2022, with the exception of the CEO, who is currently in charge of the second term.
Earlier this month, part-time executives of Generali Insurance Company met to note that Donnett could remain in the top post for his next term.
At the time, Generali Insurance Company said: Slate for Board Renewal-Include him in the aforementioned slate as CEO for the next mission as well. “