Large Generali shareholder vote seen boosting CEO’s chances
2022.04.29 10:53
FILE PHOTO: The Generali logo is seen on the company’s Tower, designed by Iraqi-British architect Zaha Hadidat, at the Milan’s CityLife district, Italy November 5, 2018. REUTERS/Stefano Rellandini
MILAN (Reuters) – Generali (BIT:GASI) shareholders representing 70.7% of the Italian insurer’s capital registered to vote at Friday’s annual general meeting in a move that is expected to favour the reappointment of Chief Executive Philippe Donnet.
Generali Chairman Gabriele Galateri di Genola said the high attendance, which compared with an average of 55%-56% for the company, was a sign of “the active participation in the life of the company and the strong ties built over the years.”
Donnet faces a challenge from rebel shareholders to his reappointment for a third term.
People close to the voting process have said that a high turnout is expected to boost Donnet’s chances of being re-elected thanks to the support he enjoys from institutional investors.
