Market News
MILAN, Oct 19 - The U.S. funds CalSTRS and New York City Comptroller said on Thursday they would vote in favour of the outgoing board's slate of nominees for the new Mediobanca board at the bank's annual meeting this month.
Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro ahead of the Oct. 28 meeting.Delfin, the holding company of the late Italian billionaire Leonardo Del Vecchio and the main investor in the bank with a 19.7% stake, submitted its own list of candidates.
While it does not pose a direct challenge to either Nagel or Pagliaro, its decision to put forward its own nominees increases uncertainty in the short term and could lead to a fractured board, analysts have said. Del Vecchio, who died last year at the age of 87, had criticised Nagel for failing to grow the investment bank's business decisively and hampering expansion at insurer Generali , in which Mediobanca is the main shareholder.
Proxy adviser Institutional Shareholder Services , Glass Lewis and Pensions & Investment Research Consultants said last week they were recommending Mediobanca investors vote in favour of the outgoing board's slate of nominees.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two U.S. funds to vote Mediobanca outgoing board's slate for board renewalExplore stories from Atlantic Canada.
Read more »
Stocks slip, oil jumps as hospital blast fans Mideast fears: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
Read more »
Cottage sellers get the news - the market has shifted downwardSeptember was a surprisingly brisk month for sales after a sluggish spring and summer, say real estate professionals
Read more »
US futures fall, oil jumps as hospital blast fans Mideast fears: Stock market news todayMiddle East tensions are weighing on markets as tech results help earnings season hit its stride.
Read more »
Local Apples at the Soo Market 🍎 - Sault Ste. Marie NewsIt&39;s officially apple season! Get your locally-grown Algoma apples while quantities last! We’re open Saturdays 9am-2pm at 73 Brock St. Explore all our vendors >
Read more »
Stocks slip as earnings ramp up, yields rise amid Mideast developments: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
Read more »