Mps, new rules for the board of directors: 'We want to give more dividends'
Among the new features of the statute is also the possibility for the assembly to raise the ceiling of the variable part of remuneration from a ratio of one to one to two to one with the fixed part, in order to 'maintain competitiveness in the market' to attract strategic personnel
"An alignment" of the statute to take into account the "new group profile" and the "position" of Monte dei Paschi "in the banking context" after the takeover of Mediobanca. As a result of which Siena has consolidated its path to recovery, transforming itself into a larger, capitalised, profitable bank with a shareholding structure revolutionised by the downsizing of the Mef and the rise in capital of the Caltagirone group (10.26%) and Delfin (17.5%).
This is how the Mps board of directors justifies the need to revise the articles of association in the report prepared for the shareholders' meeting on 4 February, which will have to vote on a series of changes, including the adoption of the board of directors' list, the lowering of profit reserves to 5%, the raising of bonus ceilings, and the removal of term limits for directors.
The introduction of the board of directors list, Mps explains, ensures 'greater flexibility of the election mechanism' of the board and takes into account 'changes to the shareholding structure', with 'the loss of control' of the Treasury.
The board of directors' list, increased by one-third of the directors to be elected and approved by a two-thirds majority, as required by the Capital Law, must be filed 40 days before the date of the shareholders' meeting and 15 days before the deadline for shareholders to submit their lists.
The distribution of seats on the council will take place according to the quotient method, but the list that came first will be reserved at least 'half plus one of the directors', while minorities will be guaranteed 'at least two councillors', so as to safeguard both 'the need for governability' and 'the protection of minorities'.
