Italy’s ex-economics minister Pier Carlo Padoan joins the supervisory board of Bank Austria parent UniCredit. In April, he should then move up to the new Chairman of the Board of Directors of UniCredit, reported the Milanese bank in a press release on Tuesday. Padoan will give up his seat in the Italian Senate, which he has occupied since 2018.
The 70-year-old Padoan, who held the post of Economics Minister in the governments of Prime Minister Matteo Renzo and Paolo Gentiloni from 2014 to 2018, is to replace the current Chairman of the Board of Directors, Cesare Bisoni. He was appointed in September 2019 after the death of the Chairman of the Board of Directors and former Italian Minister of Economics, Fabrizio Saccomanni.
As the designated Chairman of the Board of Directors, Padoan will draw up the list of candidates for the new UniCredit Supervisory Board, which will remain in office from 2021 to 2023, the press release said. The new members of the Supervisory Board are to be elected at the shareholders’ meeting next April.
UniCredit CEO Jean-Pierre Mustier said he was very pleased with the decision to appoint Padoan as the new Chairman of the Board of Directors. Padoan’s international experience will be of great benefit to the bank, Mustier emphasized.
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