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Generali director announces resignation

Generali director announces resignation | Insurance Business UK

Generali director announces resignation

Italian insurance giant Assicurazioni Generali has today revealed that director Romolo Bardin, independent director and member of the Appointments and Remuneration, Investments, Strategic Operations, and Related Party Transactions Committees has announced his resignation from the board.

Bardin is the CEO of Delfin S.à r.l. which holds a 6.618% stake in Assicurazioni Generali and is party to the Shareholders’ Agreement stipulated with some organisations of the Caltagirone Group and Fondazione CRT.

Reflecting on his decision to step down, Bardin indicated that operating procedures and some choices of the board and in the committees in which he participates, especially the process behind the formation of the board list, had led to this resolution.

Commenting on the news Gabriele Galateri di Genola, chairman of Assicurazioni Generali, said he deeply regretted the decision taken by Bardin. He added that he wishes to reiterate that Generali has always conducted its business according to the standards of “absolute transparency and rigorous fairness”, and in the interest of all stakeholders.

“These principals, I underline,” he said, “have always been adhered to in our relations with all directors, without exception and at all times.”

The news is the latest development to beset the insurance company which is embedded in an ongoing tussle between Generali CEO Philippe Donnet and business tycoons Francesco Gaetano Caltagirone and Leonardo Del Vecchio.