Paschi Investor PLT Wants Lovaglio as CEO in Competing List

Monte Paschi shareholder PLT Holding submitted a slate of candidates for the bank’s board renewal, proposing outgoing CEO Luigi Lovaglio stay on in a move that could set up a showdown over leadership weeks before a pivotal shareholder vote.

The Tortora family investment vehicle PLT, which holds more than 1.2% of Banca Monte dei Paschi di Siena SpA’s shares, put forward a list of 12 candidates for the board of directors to ensure continuity of Paschi’s strategic plan and support execution of its ongoing transformation, it said in a statement on Saturday. The list also includes former UniCredit SpA Chairman Cesare Bisoni taking on the same role at Paschi.