Reuters: Financial Services and Real Estate: Generali board member confirms no confidence to CEO

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Generali board member confirms no confidence to CEO Jun 2nd 2012, 12:42 MILAN, June 2 | Sat Jun 2, 2012 8:42am EDT MILAN, June 2 (Reuters) - The board of Italy's biggest insurer Generali made a no confidence vote on Chief Executive Giovanni Perissinotto on Saturday, ending his tenure, a board member said confirming an earlier Reuters report. "I hope we've done the right thing," Claudio De Conto told reporters after the board meeting. He did not say if the board has appointed Zurich Financial Group's executive Mario Greco to succeed Perissinotto, as expected. Another board member, Diego Della Valle who is also owner of shoemaker Tod's, said he will resign in a protest against ousting of Perissinotto. "On Monday, I will inform the chairman of my resignation," Della Valle said as he left the meeting at Generali's offices in centre of Milan. (Reporting by Gianluca Semeraro)

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