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Intesa Sanpaolo veteran chairman reappointed
April 22, 2013 / 7:16 PM / in 5 years

Intesa Sanpaolo veteran chairman reappointed

TURIN, April 22 (Reuters) - Veteran banker Giovanni Bazoli was reappointed chairman of the supervisory board of Italy’s biggest retail bank, Intesa Sanpaolo, on Monday as some shareholders expressed concerns about his age.

The 80-year-old Bazoli, for years at the centre of Italian top finance, was confirmed in his position at the bank’s annual shareholder meeting.

Bazoli has been repeatedly criticised by outspoken Italian entrepreneur Diego Della Valle, who had opposed the reappointment.

Bazoli was confirmed on the same day that 87-year-old Giorgio Napolitano was sworn in for a second term as Italy’s president.

Bazoli said the doubts expressed about his age were reasonable, adding he would step aside at the first sign of any difficulty in fulfilling his mandate.

The banker said he had been persuaded to accept another term because of the “pressing insistence of the main shareholders and the CEO.”

Intesa Sanpaolo is controlled by a group of banking foundations. (Reporting By Gianluca Semeraro, writing by Stephen Jewkes; editing by John Wallace)

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