The head of the board of Italian investment bank Mediobanca Cesare Geronzi resigned late Monday just two days after taking over the helm of insurance giant Generali, the group said in a communique.
Vice chairman Dieter Rampl will take his place temporarily until the board convenes on May 10 to approve the chairmanship of Renato Pagliaro, the statement said. Geronzi, 75, is considered a pillar of Italian finance, though he has been embroiled in several bankruptcy proceedings including the Parmalat scandal.
He was convicted and sentenced to 20 months in prison in 2006 over the collapse of the Italcase real estate group, but acquitted on appeal.
Rome, April 27, 2010 (AFP)
