MILAN, April 9 (Reuters) – Investor advisory firms have urged Generali shareholders to back a proposal by the Italian insurer’s outgoing board to reappoint chief executive Philippe Donnet for a new term, according to reports. read Saturday in documents.
Ahead of a Generali general meeting scheduled for April 29 to appoint a new board, Institutional Shareholder Services (ISS) and Glass Lewis have recommended supporting the slate of board nominees proposed by the outgoing board.
The renewal of the mandate of Philippe Donnet is contested by Francesco Gaetano Caltagirone, the second shareholder of Generali. (Report Stephen Jewkes, French version Matthieu Protard)