Fabrizio Palenzona is no longer the vice president of Unicredit. The manager resigned yesterday, effective immediately. This was communicated by the Milanese bank itself through a note, which reads that Palenzona "has taken this decision in order to facilitate the governance review initiatives planned for 2018 and announced by Unicredit during the presentation of the Strategic Plan on 13 December 2016”.
“These initiatives – continues the press release – are based on the analyzes carried out in 2016 by the Unicredit Corporate Governance, Nomination and Sustainability Committee and also include the recommendation to reduce the number of vice presidents from the current three to one. The suggested amendments may be implemented after the shareholders' meeting called to approve the financial statements for the 2017 financial year, which will be held in 2018".
