10 Jun 2016

FTSE Mib companies: succession planning for top managers

Il Salotto di Piazza Affari tra conferme e licenziamenti: il lento ricambio dei manager, Repubblica Affari e Finanza, Italy

There is a wave of renewal at the top of companies listed on the Milan Stock Exchange, which on one side is the tail of a long period of crisis and on the other is the result of changes in the ownership structure in recent months by some large companies. This year and before the mandate expires, Marco Patuano from Telecom Italia, Mario Greco from Assicurazioni Generali and now Federico Ghizzoni from Unicredit have left the helm in the hands of others.

"Only 30% of companies in the FTSE Mib and 40% of the Italian banks developed a succession plan - explains Fabio Bianconi , governance expert in Sodali, on Repubblica Affari e Finanza - in the case of the banks, the push came from the regulator. For large foreign funds, the fact that a company has a clear succession plan at the top is crucial to decide on a long-term investment."


Topics

Directors Governance Succession Planning Italy