The president of Italian investment bank Mediobanca wants to replace Antoine Bernheim at the head of Generali in April, the Italian daily La Repubblica reported Monday.
Citing an “informed” source, La Repubblica said Cesare Geronzi has already enlisted the support of Prime Minister Silvio Berlusconi, whose Fininvest holding company owns a small stake in Mediobanca.
Geronzi said in October he was not interested in the post.
Mediobanca, a pillar in the Italian economy with large stakes in many companies, is the main shareholder of Generali with 14.7 percent.
Bernheim, 85, has headed Generali since 2002.
He said last year that he would not seek a new mandate when the company’s shareholders meet on April 24.
La Repubblica said that should Geronzi take the head of Generali, he would be replaced at Mediobanca by Mario Tronchetti Provera, the current president of the Pirelli tyre and real estate group.
Geronzi has “a more ambitious but complicated” plan in mind involving the sale of two percent of Generali to French insurance company Axa and a possible “maxi” tie-up with US insurance giant AIG, La Repubblica said.
