Yesterday Generali's board of directors approved the change in the company by-laws by majority vote, abolishing the age limits of 70 for the election of the president and 77 for directors. The proposal will obviously be submitted to the vote of the assembly but the meaning of the operation is clear and it is to pave the way for the reconfirmation of the current president Gabriele Galateri di Genola who has already turned seventy.
The private shareholders Caltagirone and Del Vecchio and some of the independent directors have expressed themselves in favor of the statutory amendment.
The appointments at the top of Generali will be at the center of the assembly on the financial statements of the insurance company next spring in Trieste, but the good results obtained in the current three-year period and the new business plan presented in recent weeks by CEO Philip Donnet which promises higher dividends and new acquisitions push towards a general reconfirmation of the group's top couple who are also doing better on the Stock Exchange than almost all their foreign competitors.
