"We will respect all the deadlines in order to convene an extraordinary meeting" for any changes to the governance of Intesa Sanpaolo so as "to be able to use them in the ordinary meeting of 2016 on the renewal of the bodies". This was underlined by the chairman of the supervisory board, John Bazoli, responding to requests received during the meeting from the bank's first shareholder, Compagnia di San Paolo. Bazoli made it clear that the deadlines will be respected: "We have made time commitments that we are respecting, we have so far held 10 meetings of the governance commission and planned our activity until the end of June".
As for the outcome of the evaluations underway with the maintenance of the dual system or the transition to the traditional system "there are no guidelines yet, we are still in the reconnaissance phase". However "we intend to close by the end of June by making one or more proposals to the supervisory board", added Bazoli. At that point, the supervisory board will evaluate which model to propose to an extraordinary shareholders' meeting to be convened before the one to approve the 2015 budget. Bazoli also underlined that the changes to governance will "be submitted to the ECB".
