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Intesa Sanpaolo shareholder says no argument among bank's management
September 27, 2013 / 9:09 AM / 4 years ago

Intesa Sanpaolo shareholder says no argument among bank's management

MILAN, Sept 27 (Reuters) - Intesa Sanpaolo’s second-largest shareholder on Friday denied talk of a clash among the bank’s top management, which some have suggested could lead to an ouster of the bank’s CEO.

Sources close to Italy’s largest retail bank said that Chief Executive Enrico Cucchiani could be forced out next week after clashing with supervisory board chairman Giovanni Bazoli and the bank’s second largest investor, the Cariplo Foundation.

“If you ask me about arguments, I’ll tell you there aren’t any,” said Cariplo Foundation Chairman Giuseppe Guzzetti on the sidelines of a conference.

He also said there were no meetings planned between the bank’s shareholders to discuss management changes.

Reporting by Gianluca Semeraro, writing by Jennifer Clark, editing by Danilo Masoni

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