MILAN (Reuters) – The chairman of Italy’s biggest insurer Generali will not run for another mandate to contribute to a renewal of directors amid shareholder tensions which he said he regretted, a document showed on Wednesday.
Gabriele Galateri di Genola said in a letter to the board a copy of which was seen by Reuters he would continue as chairman only until April, when Generali’s board comes up for renewal.
“I will leave the board in full … harmony,” Galateri wrote.
Galateri has chaired Generali’s board for the past 11 years and held the role of deputy chairman for another seven.
(Reporting by Valentina Za, editing by Cristina Carlevaro)
