The Board of Directors of UniCredit and Alessandro Profumo have, upon the guidance expressed by the Board, agreed that, after 15 years, the time is right for a change of leadership.
Therefore, Mr. Profumo offered his resignation as CEO of UniCredit, which was accepted by the Board of Directors. The Board thanked Mr. Profumo for the excellent results achieved.
In particular, the Board underscored that under Alessandro Profumo’s leadership the company has developed from a purely domestic player into one of Europe’s leading banking groups. The market capitalization has risen in this period from €1.5 Billion to approximately €37 Billion. Even during the global financial crisis, UniCredit remained profitable in every quarter. With these achievements and with ongoing strategic projects like “One4C” the way has been paved for a successful and sustainable future of the Group.
Until a new CEO is appointed, the Board has transferred temporarily the executive powers to Chairman Dieter Rampl, who supported by the Deputy CEOs, will lead the Group.
Furthermore, the Board has transferred Mr. Rampl the mandate to identify and propose Mr. Profumo’s successor within the coming weeks.
Mr. Profumo thanked the Board, shareholders and all the colleagues of the Group for their longstanding support during his tenure.
Milan, 22 September 2010
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