Crédit Agricole, first shareholder of Bpm bank with 20,1% of the capital, has filed its minority list for the renewal of the board of the institute led by Giuseppe Castagna: the board of directors, in fact, is due to expire on April 16th. The list, composed of seven names, nominates, among others, the banker and former Treasury Minister, Dominic Siniscalco, Frederic de Courtois, Rossella Leidi, Alessio Foletti, Nicoletta Mastropietro, Antonio Tullio e Ivana Bonnet-Zivcevic.
Crédit Agricole has also filed a list for the board of auditors in which the effective auditors appear as candidates Paola Maiorana e Ambrose Virgil and as a substitute Silvia Rachela.
Crédit Agricole, List of Seven Names for Banco BPM
Returning to board listDe Courtois is an insurance executive with a long career at AXA, where he served as deputy CEO and CEO of AXA MPS, the joint venture with the Siena-based bank, and at Generali, where he served as general manager. Leidi, former deputy CEO of UBI Banca, and Foletti, who worked at Intesa, Crédit Agricole, and BNP Paribas, have extensive banking experience. Mastropietro is an IT and technology manager, currently an advisor to Bain and a professor at the Management School of the Polytechnic University of Milan. Tullio is a professor of commercial law and a cassation lawyer, while Bonnet-Zivcevic is a governance expert.
Crédit Agricole: "We don't want either a CEO or a president."
But a note from the French bank underlines that Crédit Agricole “it does not aim to control Banco Bpm, nor does it oppose the current boardOur list includes only 7 candidates and therefore cannot determine a majority of councilors. Furthermore, does not include any candidates for CEO or ChairmanThe institute also explains that the list aims to "make a significant contribution to governance, in line with recent Italian legislation on board appointments, which encourages greater shareholder representation."
The French bank, the note reads, "has presented its list to offer shareholders a clear and transparent alternative"Our objective," it continues, "is to enhance long-term value creation by appointing directors with solid and significant expertise. Following a rigorous selection process, we have identified candidates with considerable experience in the financial sector and in key areas for Banco BPM, such as risk management and control. Most of our candidates are independent and do not include current Crédit Agricole employees."
The decision to run for the board of directors and the board of auditors is still motivated by the desire to "bring a significant contribution to governance, in line with recent Italian legislation on board appointments, which encourages greater shareholder representation."
