Daily Management Review

Rescue Mission Will Not Be Altered Post The Exit Of Monte Paschi’s C.E.O


09/12/2016


Amid the capital raising initiative, the Italian bank copes with the resignation of its C.E.O.



Rescue Mission Will Not Be Altered Post The Exit Of Monte Paschi’s C.E.O
The rescue mission of Monte dei Paschi, the Italian bank remains unchanged even after the C.E.O resigned last week.
 
In an attempt to ward off the risk of getting injured, the bank is working on a capital raising mission of “5 billion-euro”, while in the midst of the initiative the chief executive officer, Fabrizio Viola, tendered his resignation. In Pier Carlo Padoan’s words on the said occasion:
“I am convinced that the appointment of a new chief executive officer (..) will strengthen the plan and will not modify it”.
 
He is confident of the plan which will lead them to success, while he “called for a quick appointment of a new boss”. The replacements names are expected to be out soon. Padoan talking about the resignation of Viola’s effect on the “bank's cash call”, said:
"...the timing will be decided by the board together with the advisers that have to take into account of market trends".
 
 
 
 
 
 
 
References:
www.reuters.com







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