MILAN (Reuters), – On Monday, the board of Generali (BIT) reappointed Philippe Donnet chief executive. He received 10 votes out of 13 from two sources. This was after a rebel group of Italian investors who wanted to oust Donnet lost in a shareholder vote.

According to two sources familiar with the situation, Francesco Gaetano Caltagirone was the leader of Donnet’s opposition and Generali’s second-largest investor, holding 9.95%, but he voted against his reappointment. Generali did not respond to the request.

Caltagirone also managed to nominate another director to Generali’s board. The third abstained. According to one source, Academic Andrea Sironi was appointed unanimously as the chairman.

Generali’s Board vote Monday over Donnet’s third term was seen as the first step in determining whether investor tensions would ease after Friday’s shareholder verdict.