After the meeting that marked the victory of the list of candidates presented by the outgoing board and led by the president Renato Pagliaro and the managing director Alberto Nagel despite Leonardo Del Vecchio voted for that of Assogestioni, Mediobanca's board of directors, which met today, proceeded to ratify the appointments.
Confirmed Pagliaro in the role of President and Nagel in that of managing director. Maurizia Angelo Comneno will be vice president, Massimo Bertolini the role of secretary of the council. Francesco Saverio Vinci will keep the position of general manager.
“The Board has also preliminarily assessed that the independence requirement pursuant to art. 19 of the Articles of Association exists in the hands of the directors Maurizia Angelo Comneno, Virginie Banet, Maurizio Carfagna, Laura Cioli, Maurizio Costa, Angela Gamba, Valérie Horterfeux, Maximo Ibarra, Alberto Lupoi, Vittorio Pignatti Morano”, reads the note released by Mediobanca.
Also set up 7 internal board committees:
- Executive Committee, composed of Alberto Nagel (President), Maurizia Angelo Comneno, Gabriele Villa and Francesco Saverio Vinci;
- Risk Committee, made up of Angela Gamba (Chairman), Maurizio Carfagna, Laura Cioli, Elisabetta Magistretti, Vittorio Pignatti Morano;
- Related Parties Committee composed of: Angela Gamba (Chairman), Maurizio Carfagna, Laura Cioli and Vittorio Pignatti Morano;
- Appointments Committee composed of Maurizio Costa (Chairman), Laura Cioli, Valérie Hortefeux, Alberto Lupoi, Renato Pagliaro;
- Remuneration Committee composed of Maurizio Carfagna (Chairman), Virginie Banet, Valérie Hortefeux, Maximo Ibarra, Alberto Lupoi;
- Corporate Social Responsibility Committee, made up of Alberto Nagel (Chairman), Virginie Banet, Angela Gamba, Maximo Ibarra, Elisabetta Magistretti;
- Committee pursuant to art. 18, paragraph 4, of the Articles of Association, composed of Alberto Nagel (Chairman), Maurizio Costa, Valérie Hortefeux, Francesco Saverio Vinci.
In Piazza Affari, the day after the assembly that elected the new board of directors, the title of Piazzetta Cuccia earns 1,59% to 6,144 euros.
“The victory with a large majority of the management list allows us to give further impetus to the execution of the industrial plan, which envisages a attractive shareholder remuneration policy (70% payout on 2021 profit with an average annual increase of 5% to follow as well as a buyback on 6% of the capital), avoiding that the management itself is defocused by governance conflicts”, comment the Equita analysts. "Now that the new board has been elected, with a market friendly scenario, the shares will benefit from the elimination of governance uncertainties", Citi points out in a report entitled "Wingardium leviosa", the name of the levitation spell from the Harry saga potters. Citigroup also raised the target price of the Mediobanca share from 7,20 to 8,50 euro, maintaining the "buy" rating.
Positive judgment also by Intesa Sanpaolo analysts who revised upwards both the recommendation and the target price of the stock. The target price was brought to 9,30 euros from the 8,30 of the previous indication while the consensus was revised from "add" to "buy".
