|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.65 - 11.70|
|52 Week Range||8.75 - 12.63|
|Beta (5Y Monthly)||1.68|
|PE Ratio (TTM)||10.30|
|Forward Dividend & Yield||0.75 (6.39%)|
|Ex-Dividend Date||Nov. 22, 2021|
|1y Target Est||N/A|
MILAN (Reuters) -A boardroom battle at Generali has escalated after the No.2 investor in Italy's biggest insurer resigned from the board in a challenge to the reappointment of CEO Philippe Donnet. Donnet's bid for a new term as chief executive is at the centre of a struggle among Generali's biggest investors, including construction and newspaper magnate Francesco Gaetano Caltagirone, who stepped down from the board on Thursday. "It seems we may be reaching some 'crunch point'," Autonomous Research said.
Philippe Donnet, chief executive of Italy's largest insurer Generali, will on Wednesday outline a new company strategy to try to fend off a leadership challenge brought by two billionaire investors. Construction magnate Francesco Gaetano Caltagirone and Leonardo Del Vecchio, founder of eyewear giant Luxottica, have opposed the reappointment of Donnet, 61, whose mandate ends in April. Donnet is set to meet his previous plan's targets, but is caught in a clash between the two tycoons, respectively Generali's no. 2 and no.3 shareholders, and Mediobanca, the biggest Generali investor with a 13% stake. A good market reception on Wednesday for Donnet's strategy would make it harder for Caltagirone, 78, and Del Vecchio, 86, to unseat the French manager who has led Generali since 2016.
UniCredit wants to grow its domestic footprint and could consider tie-ups in Italy and abroad, but has no interest in the country's biggest insurer Generali and its top shareholder Mediobanca, CEO Andrea Orcel said in a newspaper interview. UniCredit, Italy's No.2 bank by assets, on Thursday unveiled a three-year plan https://www.reuters.com/markets/europe/unicredit-targets-2024-net-profit-above-45-bln-euros-2021-12-09, pledging to return to investors 16 billion euros ($18 billion) by 2024, or virtually all of the profits generated during the period. Provided UniCredit delivers on the plan, the payout goal would leave intact the bank's excess capital reserves, giving it room to consider potential mergers and acquisitions. In an interview with Italian daily Il Sole 24 Ore published on Saturday, Orcel reiterated that the group could consider M&A deals that strengthen its franchise and its shareholder return plans.