MILAN (ITALPRESS) – UniCredit today announces that Pier Carlo Padoan will leave the position as Chairman of the Board of Directors at the end of his term. “Under its very successful guide,” explains a note, “the Bank has gone through a significant transformation phase, consolidating itself as one of Europe’s leading banking companies. During this period, the President provided an invaluable contribution to the strategic address and development of the Bank, leading the institution through a phase of profound change. He accompanied UniCredit in a path of operational and strategic transformation, at the same time addressing a complex context, characterized by the challenges arising both from the evolution of the macroeconomic framework and the change of the political scenario. In particular, it has built and managed relations with national institutions throughout Europe and beyond, working to ensure support to the Bank by stakeholders in the markets in which it operates.”.
During his mandate in UniCredit, he continued the note, “the Bank turned into one of the leading European banking groups, achieving record levels of profitability, creating a significant value for shareholders through a distribution policy at the top of the sector and strengthening its wealth and resilience in support of long-term growth.”.
Pier Carlo Padoan will leave office at the end of his term, “for personal reasons”, says UniCredit, while “the Board of Directors wishes to express its sincere appreciation for his leadership, commitment and leadership, which have laid a solid foundation for the Bank’s continued success.”.
Commenting on the announcement, the unanimous Board of Directors declared: “On behalf of the entire Council, we wish to thank Pier Carlo for his valuable leadership, his strategic orientation and his constant commitment to the Bank. It has ensured stability and continuity in a period of significant transformation and particularly complex circumstances, always keeping firm its commitment to the Board of Directors and all stakeholders. We are deeply grateful to him for his contribution and we wish him best for the future.”.
“I would like to personally thank Pier Carlo for his leadership and support since the beginning of my mandate – said UniCredit Group CEO Andrea Orcel –. It was for me a constant source of wise advice and great experience, and I highly appreciated our collaboration. The Board of Directors, the Group Executive Committee and I remain fully focused on the implementation of our strategy and we will continue this work with confidence during the transition and in the coming years.”.
The President will cooperate closely with Jeffrey Edberg, as head of the Bank’s Appointment Committee, “to identify an appropriate successor, ensuring an orderly and seamless delivery. The priority will be to preserve the continuity of the Bank’s governance and maintain the Board of Directors focused on the institution’s strategic priorities. The transition – the note concludes – agreed between the parties, will be managed according to the methods and times that protect the interests of the Bank and its stakeholders first. UniCredit remains fully focused on its long-term ambitions, leveraging the solid foundations built during Pier Carlo Padoan’s term of office.”.
– Photo Ipa Agency –
(ITALPRESS).
