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Generali shareholder says internal CEO candidate less risky
January 29, 2016 / 2:06 PM / in 2 years

Generali shareholder says internal CEO candidate less risky

MILAN, Jan 29 (Reuters) - Italian insurer Generali would run less of a risk if it chose a candidate from inside the company to take over as CEO from outgoing Mario Greco, a leading shareholder said on Friday.

Leonardo Del Vecchio, who owns just over 2 percent of Italy’s No 1 insurer, said an external or internal solution to the succession problem would both work.

“But the internal option would be less risky,” he said.

Earlier this week Greco, widely seen as the engineer of a rapid turnaround at Generali, said he was stepping down as CEO of the group.

Del Vecchio, the chairman of eyewear company Luxottica , said there had been no conflict between Greco and Generali shareholders.

Reporting by Gianluca Semeraro, writing by Stephen Jewkes

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