Intesa Sanpaolo is preparing to launch a change in governance giving more weight to the executive component within the Management Board. Today - explains a note from the institute - the management and supervisory boards approved some amendments to the statute to be submitted to the approval of an extraordinary meeting which will be convened after the go-ahead from the Bank of Italy to the proposals.
Based on the approved project, the Management Board will be made up of seven to eleven members (currently nine) and will be made up of a managing director, an executive member and an independent member. In the executive component, in particular, there will be the managing director, two vice-presidents and a number of executives that varies from two to four depending on the total number of members of the Board of Directors: in fact, there will be two managers in the case of a Board of Directors with seven or eight members, three in the case of a nine- or 10-member Board and four in the case of an 11-member Board. The independent component will be composed of the president and the remaining members.
