(Finance) – The ISS proxy advisor, in view of the renewal of the Board of Directors of Mediobanca of next October 28th, recommends voting on the list developed by the Piazzetta Cuccia council, preferring it to that of Delfin and Assogestioni.
The rose – writes Iss – is “adequately positioned to represent long-term interests of institutional investors and implement effective supervision of management action. It is the result of a well-structured and overall transparent selection process and presents mostly independent candidates with an adequate professional background and track record.
“All things considered – we read – supporting the number one list ensures that the outgoing board will elect 12 directors, including four new names, while Delfin, which has the status of financial investor, will indicate two directors” and the “remaining member of the board” it will be up to the list presented by the Managers Committee, which represents the Assogestioni funds.
“This represents a reasonable result as it ensures a certain degree of renewal while at the same time sending a message of strategic and managerial continuity”, underlines Iss.