] Italian parent may be about to see a change at the very top. UniCredit SpA
CEO Alessandro Profumo
is "expected to offer to resign during an extraordinary board meeting on Tuesday," the Wall Street Journal reported
| Alessandro Profumo |
Relations between Profumo and UniCredit's board reportedly soured due to Libya's increasing influence over the bank. Libyan institutions have a combined stake of about 7.4 percent in Milan-headquartered UniCredit.
that UniCredit's board plans to give chairman Dieter Rampl
a timeframe of three weeks to pick a new CEO. The board is said to be eyeing external candidates to succeed Profumo.
If Profumo indeed were to depart, it's not clear what impact, if any, that would have on the fate of Pioneer Investments. On September 6, Profumo was quoted
as saying: "We are starting talks with interested parties." He did not name names.
Profumo added that "all options are still on the table," including a break-up.
Armie Margaret Lee
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