Mps, Board terminates employment with Lovaglio: 'Just Cause'

The board of directors of Banca Monte dei Paschi di Siena, which met under the chairmanship of Nicola Maione, following and as a consequence of the revocation of the delegated powers resolved on 25 March, unilaterally terminated for just cause the employment relationship with Luigi Lovaglio in his capacity as general manager. This was announced by Mps in a note at the end of the Board meeting. Lovaglio had been suspended from the position of general manager on 25 March, when his delegated powers as CEO were revoked.