The approval of the restructuring plan by the board of directors of Monte dei Paschi di Siena, which met today, has been postponed. The board has in fact decided to postpone the approval to "a future board of directors" due to "the need for the European Commission to complete the formal procedure". An unexpected postponement to Siena, so much so that the presentation of the plan to the financial community had already been scheduled for tomorrow morning before the markets open. And that was communicated at the end of the day, around seven in the evening. The bank explains that "although the technical works for finalizing" the plan have been completed, "the formal preliminary phase between the Ministry of Economy and Finance and the European Commission has not been finalised".
In the meantime, the board of directors in today's meeting co-opted as non-independent director Béatrice Derouvroy Bernard, a manager from Axa who will assume the position of General Manager of AXA MPS Assicurazioni Vita and AXA MPS Assicurazioni Danni, as well as Director of AXA MPS Financial. Béatrice Derouvroy Bernard takes over from Frédéric Marie de Courtois D'Arcollières, who has been appointed Chief Executive Officer of AXA Insurance.
