UniCredit Chairman Pier Carlo Padoan to Step Down at End of Term
By Michael Hennessey
UniCredit said Chairman Pier Carlo Padoan will step down at the end of his term, citing personal reasons.
The Italian bank said Wednesday that it is working to identify a successor to Padoan in a "mutually agreed transition", and will prioritize preserving continuity in the bank's governance.
Padoan's term in office ends on the date of the shareholders' meeting to approve the 2026 financial statements, which is yet to be confirmed. This year's equivalent meeting took place in late March. Padoan became chairman of the bank in April 2021.
"The board, [group executive committee] and I remain fully focused on delivering our strategy, and we look forward to continuing that work through this transition and beyond," said Chief Executive Officer Andrea Orcel.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
October 28, 2026 04:05 ET (08:05 GMT)
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