Large Generali shareholder vote seen boosting CEO’s chances

MILAN (Reuters) – Generali shareholders representing 70.7% of the Italian insurer’s capital registered to vote at Friday’s annual general meeting in a move that is expected to favour the reappointment of Chief Executive Philippe Donnet.

Generali Chairman Gabriele Galateri di Genola said the high attendance, which compared with an average of 55%-56% for the company, was a sign of “the active participation in the life of the company and the strong ties built over the years.”

Donnet faces a challenge from rebel shareholders to his reappointment for a third term.

People close to the voting process have said that a high turnout is expected to boost Donnet’s chances of being re-elected thanks to the support he enjoys from institutional investors.

(Reporting by Gianluca Semeraro and Valentina Za; Editing by Keith Weir)