Governance reform for the adoption of the "dualistic model", new capital increase established at 800 million euro, incorporation of Cassa di Risparmio di Alessandria into Banca di Legnano (with an exchange ratio of 3,95 euro/shares of post-merger Banca Legnano for each share held in Cassa di Risparmio di Alessandria). These are the changes approved tonight by the Board of Banca Popolare di Milano.
As for the new governance model, a new statute will be submitted to the Shareholders' Meeting which envisages the creation of a Supervisory Board appointed by the Shareholders' Meeting itself, "which is granted the power to supervise and control the management of the Bank - states a note from the institute – and from a Management Board, appointed by the Supervisory Board, which is assigned the task of managing and administering the Bank and defining the general, programmatic and strategic guidelines of the Group”. The latter body "is made up of 5 members, from among whom a Chief Executive Officer must be appointed, who may coincide with the General Manager".
