March 22, 2013 / 12:01 PM / in 5 years

Intesa CEO rules out chairman Bazoli could step aside

CERNOBBIO, March 22 (Reuters) - Intesa Sanpaolo’s CEO Enrico Cucchiani ruled out on Friday that the chairman of the bank’s supervisory board, veteran banker Giovanni Bazoli, could step down.

Bazoli, 80, has been repeatedly criticised by outspoken Italian entrepreneur Diego Della Valle, who said he hoped Bazoli would not be confirmed in his position by the bank’s shareholders next month.

“It seems to me it is absolutely out of the question,” Cucchiani told reporters when asked if Bazoli could step aside.

Two of the bank’s leading foundation shareholders have filed their slate of candidates for the board with Bazoli’s name at the top, indicating he is likely to be reappointed chairman.

Reporting By Andrea Mandala, editing by Silvia Aloisi

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