Generali CEO Donnet Re-elected for Three-Year Term Amid Shareholder Vote

Philippe Donnet has been reappointed as CEO of Italian insurance giant Generali for another three-year term following a shareholder vote at the annual general meeting. The slate proposed by Mediobanca, Generali's largest shareholder, secured just over 52% of the vote, ensuring Donnet's leadership and the retention of most board members, including Chairman Andrea Sironi. A rival slate led by Delfin and Francesco Gaetano Caltagirone, who have expressed concerns over a recent asset management deal with French banking group BPCE, received nearly 37% of votes but failed to gain control. The board election reflects ongoing tensions among major shareholders over Generali's strategic direction, with proxy advisors recommending continuity. The AGM also approved a long-term incentive plan and a new dividend. Donnet expressed confidence in the company's future, emphasizing strong recent financial results and the adoption of the 'Lifetime Partner 27: Driving Excellence' strategy.