Paschi Leadership Drama Heats Up as Board to Discuss CEO Future

Banca Monte dei Paschi di Siena SpA’s board of directors is set to discuss potential steps to rein in Chief Executive Officer Luigi Lovaglio as the battle over who will lead the world’s oldest bank escalates.

Monte Paschi’s board is expected to use a previously scheduled meeting on Monday to discuss whether Lovaglio can remain in his role, after he agreed to run for another term despite a plan by the lender to replace him, people familiar with the matter said.