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Carige's board approves no-confidence motion against CEO-source
June 9, 2017 / 4:51 PM / 2 months ago

Carige's board approves no-confidence motion against CEO-source

MILAN, June 9 (Reuters) - The board of regional Italian lender Banca Carige on Friday approved a no-confidence motion against CEO Guido Bastianini, a source close to the matter said, in a move that is likely to delay the bank's restructuring plan. The board of the Genoa-based bank held the vote after its top investor, Vittorio Malacalza, said he no longer backed Bastianini, who had been in the job since April 2016.

Carige is working to shed bad debts and plans to raise 450 million euros ($504 million) this summer in its third cash call since 2014. ($1 = 0.8932 euros) (Reporting by Gianluca semeraro, editing by Silvia Aloisi)

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