Intesa Sanpaolo Main Investors Propose Gros-Pietro as Chairman

Intesa Sanpaolo SpA’s top investors proposed the bank’s current supervisory board chairman, Gian Maria Gros-Pietro, as the lender’s new chairman of its board of directors.

Gros-Pietro, 74, won the backing of shareholders including Compagnia di San Paolo and Fondazione Cariplo, according to a statement sent by Cariplo on Tuesday. The investors agreed on a slate of candidates for the bank’s board that includes current Chief Executive Officer Carlo Messina. They expressed support to confirm Messina as CEO.

Italy’s second-largest bank by assets is changing its corporate governance from a dual system to a single board of directors. The bank’s annual meeting to approve 2015 financial results and renew the board is scheduled for April 27.

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