Finance
Monte dei paschi board votes to oust CEO lovaglio, sources says
Published by Global Banking & Finance Review®
Posted on March 4, 2026
1 min readLast updated: March 4, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 4, 2026
1 min readLast updated: March 4, 2026
Monte dei Paschi’s board has voted not to include CEO Luigi Lovaglio in the slate of nominees for its April shareholder vote, effectively ending his term, amid investor concerns and a market‑manipulation probe.
MILAN, March 4 (Reuters) - The board of Monte dei Paschi di Siena on Wednesday voted against keeping CEO Luigi Lovaglio in the job after his mandate ends in April, two people with knowledge of the matter said.
Backing the decision taken on Tuesday by the bank's appointments committee, a majority of directors voted in favour of keeping Lovaglio out of a slate of nominees that will be put to a shareholder vote in April to name a new board.
(Reporting by Valentina Za; Editing by Giulio Piovaccari)
The board majority voted not to keep CEO Luigi Lovaglio after his mandate ends in April, following the appointments committee's recommendation.
A shareholder vote to name the new board will take place in April.
The decision was reported by Valentina Za and edited by Giulio Piovaccari.
The board followed the appointments committee's recommendation and held a majority vote to exclude Lovaglio from the slate of nominees.
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