Intesa Sanpaolo calls snap board meetings on CEO position:sources

MILAN Sun Sep 29, 2013 11:59am EDT

A man takes a picture in front of Intesa Sanpaolo bank in downtown Rome July 23, 2010. REUTERS/Alessandro Bianchi

A man takes a picture in front of Intesa Sanpaolo bank in downtown Rome July 23, 2010.

Credit: Reuters/Alessandro Bianchi

MILAN (Reuters) - Intesa Sanpaolo (ISP.MI) has called a snap meeting of its two boards on Sunday evening to discuss the possible ousting of Chief Executive Enrico Cucchiani, two sources close to the situation said on Sunday.

Cucchiani, at the helm of Intesa since late 2011, has clashed with the chairman of the supervisory board and key shareholders, several sources with knowledge of the situation have told Reuters.

"The dice is cast," one of the sources said.

The second source confirmed the meeting of the management and supervisory boards had been called to discuss the position of the CEO.

Several people familiar with the situation have said Cucchiani may be replaced by his deputy Carlo Messina.

(Reporting by Paola Arosio, writing by Stephen Jewkes, Editing by Lisa Jucca)

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