The current board yesterday dismissed the manager, who was head of the Austrian insurance industry and currently controls CEE activities from Prague. The allegations are violations of the duty of loyalty and serious violations of other labor law guidelines.
Last week, billionaires Francesco Gaetano Caltagirone and Leonardo del Vecchio (EssilorLuxottica) went public as minority shareholders. They want to overthrow CEO Philippe Donnet at the annual general meeting on April 29th. Cirina presented ambitious investment plans. You want to spend seven billion euros, “only” three billion the board. According to the critical shareholders, the insurance company has recently “increasingly and relentlessly” lost ground to its European competitors.
The contractor Caltagirone holds nine percent, del Vecchio five. The largest shareholder is Mediobanca with 15 percent. 64 percent are in free float.
Source: Nachrichten
