Jean Pierre Mustier not only fulfills the promise made to the financial community on the purchase of the bank's shares, he doubles it.
The French manager has in fact purchased just over 140 shares of the bank in Piazza Gae Aulenti with an investment of around two million euros. Not only that, Mustier also bought AT1 perpetual bonds for a countervalue of 2,16 million euros.
The total investment therefore exceeds 4 million, double the two million euros that the bank's CEO had promised he would buy to demonstrate his direct involvement in creating value for shareholders in the long term, a decision also linked to the 40% cut of his salary to 1,2 million euros.
Furthermore, it should be emphasized that the purchases took place at prices between 14,23 and 14,25 euros per share, value that could be interpreted as a sort of floor of the share price, below which the CEO of the group would record a portfolio loss.
