UniCredit: Giordano (Cariverona), we are considering how to contribute to governance

(Il Sole 24 Ore Radiocor) - “We have been shareholders in the bank for a long time and, naturally, we are paying close attention to the forthcoming renewal of UniCredit’s governance.” “We will make our own assessments entirely independently, guided solely by the quality of governance, the bank’s stability and long-term value creation.” This was stated by the chairman of the Cariverona Foundation, Bruno Giordano, on the sidelines of Savings Day. Cariverona is a long-standing shareholder in UniCredit, holding a stake of approximately 0.7 per cent, and confirms the position it has maintained in recent years as a financial investor, whilst keeping a close eye on the bank’s developments. As for the possibility of the Verona-based organisation being involved in drawing up lists of candidates, Giordano clarified: “We do not rule out any of the possibilities provided for by the regulatory and statutory framework from the outset. At this stage, we are assessing what might be the most useful and responsible way to contribute to the next governance structure.” UniCredit will renew its senior management in the spring of next year and will also have to choose a new chairman following the announcement that Pier Carlo Padoan will step down at the end of his term. Finally, regarding Padoan’s decision, Giordano noted: “It is a decision that I respect and on which it is not my place to comment. At such a crucial juncture, I believe it is in the bank’s best interests that the transition to the new governance structure be carried out with the utmost attention to the quality, independence and soundness of the future structure.”

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