The CEO has resigned Banca Popolare dell'Emilia-Romagna, Luigi Odorici. He is succeeded by the current deputy general manager Alexander Vandelli. Half an hour after the close of trading, the bank's stock dropped two and a half percentage points to 7,975 euros.
"The basis of the decision - reads a note - is the interested party's willingness to favor an immediate assumption of the government of the strategic guidelines by whoever will be responsible for elaborating and subsequently implementing the new group industrial plan".
Odorici has been designated vice president of the bank, and will join, in the same position, Alberto Marri and Giosuè Boldrini.
Vandell joined Banca Popolare dell'Emilia Romagna in 1984, taking on positions of increasing responsibility, first in the parent company and then in the group's listed bank, where he held the position of general manager.
The chairman Ettore Caselli, "in expressing, on behalf of the board of directors, his deep appreciation for the work done by Odorici, underlines how the appointment of the Vandellis as managing director rewards a resource that enjoys deserved consideration within the financial community", concludes the note.
Odorici himself had announced for some time the possibility of his changing position within the Bank, changing position also with regard to a possible capital increase. According to the rumors of the last few days, the capital operation - which should be worth around 800 million euros - could be launched by the end of the summer.
