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UPDATE 1-Generali CEO working on reorganisation plan to speed up strategy delivery –sources

(Adds comments by sources, company background)

MILAN, Jan 13 (Reuters) - Generali Chief Executive Philippe Donnet is working on a reorganisation of the Italian insurer aimed at speeding up delivery of its strategy in a move that could lead to management changes, three sources said on Wednesday.

The plan, first reported by Bloomberg, will be presented to the Generali board within a few weeks, two of the sources said.

“The idea is to give Donnet a more direct grip on strategy and pick up the pace on things like asset management and digitisation in the last year of the group’s plan,” one of the sources said.

This year marks the end of the strategic plan Donnet unveiled in 2019.

In November, Generali confirmed the plan’s financial targets to 2021 despite the emergency related to the COVID-19 pandemic.

Europe’s third-largest insurer has said it wants to become a top player in asset management by positioning itself among the top five multi-boutiques in the long term.

Two of the sources said Donnet was working on reorganizing management lines in such a way that some of the group’s top managers would take a step back. (Reporting by Gianluca Semeraro and Stephen Jewkes in Milan Editing by Valentina Za and Matthew Lewis)

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