Economics
Intesa Appoints Messina CEO; Shares Slide in Milan
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Intesa Sanpaolo SpA, Italy’s second-biggest bank, appointed Carlo Messina as chief executive officer to replace Enrico Tommaso Cucchiani, who resigned after clashing with shareholders. The stock fell the most in six months.
The management change will “accelerate” the bank’s potential after Cucchiani delivered expected results during a prolonged systemic crisis, Intesa told the Milan stock exchange in a statement today.