Press release
The Board of Directors of Banca MPS assesses the requirements of the Chief Executive Officer, Luigi Lovaglio
Siena, 2 March 2022 – At today’s meeting, the Board of Directors of Banca Monte dei Paschi di Siena S.p.A. (hereinafter the “Bank”), as the competent body pursuant to Ministerial Decree no. 169/2020, has assessed that the Chief Executive Officer and General Manager, Luigi Lovaglio, appointed by co-optation on 7 February 2022 pursuant to Article 2386 of the Italian Civil Code, meets the fit and proper requirements and criteria provided for by the applicable laws and regulations.
Being Mr. Luigi Lovaglio an executive director, he does not meet the independence requirements pursuant to Italian Legislative Decree no. 58/1998, Ministerial Decree no. 169/2020 and the Corporate Governance Code.
Therefore, there are currently eleven independent directors, equal to more than half of the Board members, well above the minimum threshold (at least one third) established by the Bank’s By-Laws, in compliance with the laws and regulations in force.
The Board of Directors has assessed the requirements on the basis of information provided by the director himself or, in any case, public information available and reasonably obtainable.
The Board of Directors has also confirmed that there are no material situations pursuant to the regulations on interlocking directorates under Article 36 of Italian Decree Law no. 201/2011, converted by Law no. 214/2011.
