MILAN (AP) — Unicredit chairman Dieter Rampl has been named interim CEO of Italy's largest bank following the boardroom ouster of Alessandro Profumo.
Unicredit said in a statement Wednesday that "the time is right for a change of leadership," without elaborating on the reasons for the move.
Profumo, who has led the bank and its predecessor for 13 years including a period of great expansion, submitted his resignation late Tuesday after losing shareholder confidence over the increase in Libya's stake in the bank.
The markets reacted to news of the midnight resignation badly, with Unicredit stock shedding 3 percent in Milan trading Wednesday to €1.84 ($2.41).
Analysts …
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