MILAN (Reuters). – Generali’s (BIT:), shareholders vote on April 29 to elect a chief executives and board of directors.

Philippe Donnet has served as the CEO at Europe’s third-largest insurance company since 2016. He is seeking reappointment, supported by Generali’s retiring board and Mediobanca (OTC).

Francesco Gaetano Caltagirone (Italian tycoon and second largest investor in Generali), has opposed Donnet’s candidacy. He instead proposed Luciano Cirina, former Generali executive.

Here is a list of all the major stakeholders along with their positions:

– IN FAVOUR OF DONNET –

MEDIOBANCA Milanese Bank holds 12.8% Generali accounts

for one third of its profits. In order to counter the challenger

AGM secured temporary 17.2% for investors

Voting stake

DE AGOSTINI It is a publisher that has highly praised Donnet.

Resign his appointment before the completion of planned

Disposal of the 1.44% Generali stake

NORGES Generali Shareholders Union Investment and Deka

Reuters was told by BANK and CPP that they support Donnet.

CALPERS. Proxy voting records prove that Norway is sovereign

SBA wealth fund Norges Bank for U.S investors CalPERS, and SBA

FLORIDA: Florida and Canada are both in favor of the CPP.[L5N2WK2BO]

UNION Swiss Foundation Ethos includes more than 220

INVESTMENT (pension funds) has recommended a pro Donnet vote.

DEKA

– AGAINST DONNET –

FRANCESCO FRANCESCO A 79-year old newspaper magnate and construction entrepreneur has a

GAETANO 9.5% Generali stake. He has steadily increased it

Recent years of CALTAGIRONE Prior to his resignation in January

Caltagirone has been on the Generali board since 1993.

2007. He also took over the position of vice chair for 2010. He

Even if he loses his seat, he will most likely get a second chance to sit on the board.

Failure of the bid to expel Donnet

LEONARDO Billionaire, founder of Luxottica Italian Eyewear Company

Generali’s third largest shareholder is DEL with a stake

VECCCHIO around 8% Del Vecchio is the largest

Investor in Mediobanca, holding a stake of almost 20%

Caltagirone

FONDAZIONE Banking Foundation with 1.7% Share Support

Generali’s CRT Caltagirone plan.

– YET TO DECIDE –

BENETTON Receives a 4% Generali stake, and has close ties with both camps

FAMILY Bettons want to help rivals slates.

After the AGM, encourage dialogue and collaboration.

INSTITUTIONAL Insures 35% in total They are attending their AGM

Recent years, INVESTORS participation has averaged around 20%

The overall attendance for this year is expected to rise significantly

higher. The majority of their vote will be oriented towards the

Recommendations from top governance advisors

Institutional Shareholder Services (ISS), and Glass

Both Lewis and Donnet have been backed by Lewis. Shareholders of the Fund

BlackRock, Fidelity Investments (NYSE:), Vanguard

Thornburg Investment Management.

A collective of eleven institutional investors owns 0.64%

Generali has filed an additional slate. This does not apply to Generali.

include a CEO candidate.

RETAIL Wealthy families are a majority of small savers in

SHAREHOLDERS Italy’s north East holds approximately 22% of Generali. To view the full article, click here

The dividend policy is what should focus attention of retail shareholders

Donnet pledged in December to increase.