'There is a 90% probability'.
Reuters reports that Unicredit's embattled chief executive Federico Ghizzoni might resign ahead of a board meeting set for May 24, three sources close to some of the bank's disaffected shareholders said on Friday.
"There is a 90% probability that Ghizzoni will come to the board meeting having resigned," said one of the sources, who declined to be named. Another source said Ghizzoni might stay in place until his successor had been found.
All three sources said the situation remained fluid.
Ghizzoni has led UniCredit since 2010, but has faced growing shareholder unhappiness over the bank's weak share price performance, stretched capital position and low profitability when compared to rival Intesa Sanpaolo.
To access the complete Reuters article hit the link below:
Have something to tell us about this article?