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Notable Victim: An intense power struggle for a senior position at Generali: Replacing the CEO candidate with “”

Notable Victim: An intense power struggle for a senior position at Generali: Replacing the CEO candidate with “”

Insurance group Trieste is in the midst of a fierce battle between groups of shareholders for future direction. The Generali Germany coach takes over as President of Central and Eastern Europe Cirinà on a temporary basis. He was proposed by his group to be the new CEO of Generali.

7:48 PM, March 23, 2022


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Violent dispute between shareholders of the Trieste Insurance Group Generali © APA / HANS PUNZ

One that lasted for months Power struggle between Generali shareholders to lead the Italian insurance group Prominent victim demands. Luciano Serena, who heads the Prague-based Central and Eastern Europe holding company, which also includes Austria, was suspended on Wednesday. The manager who has been under contract with the group for 30 years will be replaced Temporarily with Generali Germany CEO, Giovanni Liverani, the company also announced.

The group confirmed that during the suspension period, all commitments related to Serena’s employment will remain in effect. A new board of directors will be elected at Generali’s annual general meeting on April 29. There has been a heated debate among shareholders of insurance group Trieste for weeks about the company’s new management.

Marcus Traussing Luciano Serena
Luciano Serena © Markus Traussing

Serena has been proposed as the new CEO

Serena has been proposed as Generali’s new CEO by minority shareholders around Romanian building contractor Francesco Gaetano Caltagirone and eyeglass maker Leonardo del Vecchio. Minority shareholders, who together control about 16 percent of Generali’s capital, submitted a list of 13 candidates to the supervisory board, headed by former Goldman Sachs banker and former head of the Italian Development Bank Cassa Depositi e Prestiti (CDP). ), Claudio Costamagna, should stand up.

Antonella May Buchtler nominated for the Board of Directors

The list presented by Caltagirone, with the exception of himself, consists mostly of independent candidates, among whom are six women and seven men. The list has been prepared as a replacement for the list of Mediobanca’s main contributor. Andrea Cerrone, Chairman of Borsa Italiana’s Board of Directors, will succeed Gabriele Galateri di Genola, who intends to resign at the end of the shareholder meeting. The new board of directors around Mediobanca should be younger and more independent than the previous and mostly women board. Among the candidates Also the Austrian Administrative Chancellor Antonella May Buchler, former head of the “Think Austria” strategy department at the Chancellery of Vienna, who has been a member of the Generali since 2019.

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Erwin Sheriya Antonella May Buchler
Antonella May Buchtler © Erwin Cheria

Cirina current development plan

At the general meeting, the list with the majority selects nine of the 13 board positions. The second-place list may send three representatives to the committee, and the third. Cirinà presented a development plan for the group at a press conference Friday in Milan on behalf of its group of shareholders. He has headed the CEE holding company since 2013, and before that he was the head of Generali Austria in Vienna since 2007.