ROME (Reuters – Italy’s Benetton Family, a shareholder of insurer Generali (BIT :), decided to vote in favor of the slate submitted by a challenger investor, and not for current management, Il Sole 24 Ore reported Wednesday.

“The unanimous decision was taken last Friday… The Benetton Family has decided to support the GaetanoCaltagirone’s list,” reported the financial newspaper, citing financial sources.

Next Friday, shareholders in Italy’s largest insurer will vote to name a new board. This is in response to a shareholder dispute that saw Philippe Donnet’s reappointment challenged by leading Italian investors.

Generali is held by just under 4 percent of the Benettons holding company. A spokesperson from the Benettons declined comment.