The Malacalza era officially began together with the presidency of Giuseppe Tesauro. Banca Carige's shareholders' meeting renewed the Board of Directors. In the vote, the Malacalza Investimenti list managed to reach the majority, reaching 55% of the votes. A percentage that de facto means that the institution's controlling shareholder will have 10 directors out of 15 on the new board of directors.
According to the bank's statute, the role of president will fall to the head of the list presented by the first shareholder and by the Carige Foundation. Giuseppe Tesauro, former number one of the Consulta and of the Antitrust, will take the place of Cesare Castelbarco Albani, who presided over his last assembly today, while the role of vice president will go to Vittorio Malacalza.
As for the other members, the board should be composed as follows. For list 1: Luciano Pasquale, Guido Bastianini (who in all probability will fill the role of CEO), Maurizia Squinzi, Beniamino Anselmi, Giampaolo Provaggi, Paola Giardino, Elisabetta Rubini, Lucia Venuti. For the Spinelli list: Claudio Calabi, Alberto Mocchi and Sara Arnella. To these are added Remo Angelo Checconi (List of Coop – Cr Savona and Carrara) and Giulio Gallazzi (List of funds).
It should be underlined that Malacalza responded harshly to the rumors circulated in relation to the support that the European Central Bank allegedly gave to the proposal of Apollo Capital Management, the US fund which offered to buy the bank's non-performing loans, in parallel launching a capital increase of 550 million: "The statements in the press referring to the role that the ECB would have exercised, would be exercising, regarding Apollo's proposal are disconcerting, but we believe that these allegations do not correspond to the truth and are the result of inspirations that come from a source other than the ECB, a source which it is easy to assume is identified with that of the disconcerting indiscretion perpetrated in violation of the rules established by the law to protect the market"
There was also strong criticism of the outgoing CEO Piero Luigi Montani. In fact, according to Malacalza, the new board of directors will have to "evaluate the implications of what happened and the initiatives to be taken in this regard".
Based on the rumors, theThe Malacalza family could have a Plan B which would involve the sale of non-performing loans at a higher price than that proposed by the Apollo fund, making use of the Gacs (Guarantee for the securitization of non-performing loans).
On Piazza Affari, investors don't seem enthusiastic about the results of the meeting. The title it is currently traveling in deep red, losing 2,8% to 0,577 euros.
