Generali Chairman to Resign From Board

   By Cecilia Butini

Assicurazioni Generali SpA chairman Gabriele Galateri di Genola said Wednesday that he will resign from the insurance company's board of directors at the end of his term.

Mr. Galateri di Genola said in a letter to the board that he would step down citing tensions amid shareholders, and called for the election of professional and conscientious board members.

Generali recently saw the resignation of its second-largest shareholder when Francesco Gaetano Caltagirone stepped down in January amid disagreements with the company's chief executive and the board's decisions on strategic direction.

Mr. Caltagirone had teamed up with EssilorLuxottica chairman Leonardo Del Vecchio and Fondazione CRT in September to demand changes. Generali then appealed to Italy's regulators to establish whether the shareholding acquired by the group of investors should be authorized or be subject to further obligations.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

February 16, 2022 11:34 ET (16:34 GMT)

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