|Bid||0.0000 x N/A|
|Ask||0.0000 x N/A|
|Day's range||4.0800 - 4.0800|
|52-week range||4.0800 - 4.0800|
|Beta (5Y monthly)||1.03|
|PE ratio (TTM)||3.32|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
MILAN (Reuters) -Francesco Gaetano Caltagirone, the second largest shareholder in Assicurazioni Generali, has quit its board, the Italian insurer said on Friday, opening a new chapter in a long-standing shareholder row. Caltagirone holds a 9.95% stake in Generali, having beefed up his holding in recent years as tensions mounted between the construction and newspaper magnate on the one hand, and the insurer's board and its single biggest investor Mediobanca on the other. Shares in Generali fell more than 2% after the news, underperforming a flat Italian blue-chip index on investor concerns that Caltagirone might reduce his stake.
A strategic plan for Generali backed by rebel shareholder Francesco Gaetano Caltagirone goes in the right direction by setting up the company for growth, another of the top investors in Italy's biggest insurer was quoted as saying. Leonardo Del Vecchio, the billionaire founder of eyewear giant Luxottica and the third-largest investor in Generali behind Caltagirone, told Bloomberg in an interview that candidates put forward for Generali's board by Caltagirone were "highly competent and well balanced." Construction magnate Caltagirone has challenged the reappointment of Generali Chief Executive Philippe Donnet, by proposing the group's former head of Austria, Luciano Cirina, as an alternative CEO.
MILAN (Reuters) -Italy's largest insurer Generali said on Monday it had fired veteran executive Luciano Cirina, who is publicly challenging incumbent Philippe Donnet for the role of chief executive, for alleged breach of contract. Cirina, who was head of Austria and the CEE countries at the insurer, has been proposed for the top job by a leading Generali investor in a power struggle which will be put to a shareholder vote on April 29. "The decision has been taken due to violations of his duty of loyalty and material breach of other personal obligations under his contract of employment," Generali said in a statement.