January 14, 2014 / 5:06 PM / in 4 years

Monte Paschi Chairman, CEO stay on despite cash call delay-source

SIENA, Italy, Jan 14 (Reuters) - The chairman and the chief executive of Italy’s Monte dei Paschi di Siena will remain in their jobs despite being forced to delay a capital increase by the bank’s top investor, a source with direct knowledge of the matter said on Tuesday.

“Yes,” the source said when asked if Chairman Alessandro Profumo and CEO Fabrizio Viola would stay on after a board meeting discussed their fate on Tuesday.

The two had threatened to resign last month after a shareholder meeting voted down their proposal to launch the 3-billion euro ($4.11 billion) rights issue in January. The cash call has been postponed until mid-May at the earliest.

$1 = 0.7306 euros Reporting by Silvia Ognibene, writing by Silvia Aloisi; editing by Agnieszka Flak

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