Padoan will leave the presidency of Unicredit at the end of his mandate: "Personal reasons"

ROME – At the end of his mandate Pier Carlo Padoan will leave his position as president of the board of directors of Unicredit at the end of his mandate for "personal reasons". The institute made this known in a note.

"Under his highly successful leadership – we read – the bank has gone through a significant phase of transformation, consolidating itself as one of the leading European banking entities. During this period, Padoan has provided an invaluable contribution to the strategic direction and development of the bank, guiding the institution through a phase of profound change".

Padoan will work closely with Jeffrey Edberg, as head of the Bank's Appointments Committee, to identify a suitable successor, ensuring an orderly and seamless handover.

“The priority will be to preserve the continuity of the Bank's governance and keep the board of directors focused on the strategic priorities of the institution,” we read in the document.