Italian Billionaires Strike Deal to Chart Course at Generali
13 September 2021 - 08:58AM
Dow Jones News
By Mauro Orru
Billionaires Francesco Gaetano Caltagirone and Leonardo Del
Vecchio have reached an agreement aimed at using their combined
shareholding in Assicurazioni Generali SpA to push for a "more
profitable and effective management" of the Italian insurer.
Generali said Saturday that Mr. Caltagirone and Mr. Del
Vecchio--who together control nearly 11% of the insurer--had agreed
to consult each other with a particular emphasis on the appointment
of a new board of directors ahead of the company's shareholders'
meeting next year.
The agreement between some companies of the Caltagirone Group
and Delfin Sarl, steered by Mr. Del Vecchio, aims to push for a new
management strategy marked by "technological modernization" and
"growth in an open market" setting, Generali said in a
statement.
Mr. Caltagirone, whose business extends to the cement and media
sectors, has been a member of Generali's board of directors since
April 2007.
Mr. Del Vecchio is chairman of Franco-Italian eyewear company
EssilorLuxottica SA, and is the founder of Luxottica Group.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 13, 2021 02:43 ET (06:43 GMT)
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