Generali Suspends Rebel Shareholder's Candidate From Regional Head Post

By Ed Frankl

Assicurazioni Generali SpA said Wednesday that it has suspended its regional head of Austria & Central and Eastern Europe Luciano Cirina with immediate effect, escalating a leadership tussle over management of the company.

The news comes a week after Mr. Cirina featured as the candidate for chief executive officer in a rival list of nominations for Generali's board written up by the Italian insurer's second-largest shareholder Francesco Gaetano Caltagirone, who disagrees with the direction of the company under current CEO Philippe Donnet.

Analysts at the time questioned how Prague-based Mr. Cirina could openly challenge Mr. Donnet.

Giovanni Liverani, CEO of the insurer's German unit, Generali Deutschland, will take over as interim Austria & CEE regional officer with immediate effect, the company said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

March 23, 2022 12:36 ET (16:36 GMT)

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