The chairman of the board of directors of Banca Monte dei Paschi di Siena, Alessandro Falciai, for personal reasons, has deemed it appropriate to communicate his unwillingness to accept the candidacy in the list presented by the Ministry of Economy and Finance, in view of the shareholders' meeting on 18 December. This is what we read in a press release from the institute released late on Friday evening.
Falciai thus decided to avoid exploitation as he was being investigated by the judiciary for the accounting mistakes committed by his administrators in his Pisa shipyard.
The Ministry of the Economy will integrate the list for the board with a new name in place of Falciai before the start of the meeting scheduled for next Monday. The shareholders meet in an extraordinary session to express their views on some amendments to the Articles of Association and on the proposal to reduce the capital due to losses. The ordinary part provides for the determination of the number of members of the new board of directors for the financial years 2017-18-19 and of the vice presidents, the appointment of the board and the board of statutory auditors, as well as the determination of the related fees.
The shareholders' meeting was called for December 18 after, in November, with the entry of the Treasury into the bank's capital and the approval of the nine-month accounts, the board of directors resigned to make room for the indications of the new shareholder of reference, the Treasury to be precise.
