UniCredit CEO Resigns After Misalignments with the Board
(01 December 2020 – Europe) UniCredit’s current CEO, Jean Pierre Mustier, has recently announce his resignation after clashes with the bank’s board over strategy.
Mustier has led the bank through a vigorous restructuring process by strengthening the bank’s balance sheet and reducing exposure to debt-laden Italy. However, he faced increasing discontent over his failure to lift the share price and provide strategic clarity amid the pandemic. He will step down from his position in April next year.
“Over the last few months, it has become apparent that the business strategy and its core pillars no longer corresponds to the board’s current thinking. Hence I have decided to retire from the group at the end of my mandate in April 2021, to allow the new board to elaborate a future strategy” commented UniCredit CEO, Jean Pierre Mustier.
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