Monte Paschi Board to Continue Review CEO’s Position Wednesday

Banca Monte dei Paschi di Siena SpA’s board of directors will continue to evaluate potential steps to rein in Chief Executive Officer Luigi Lovaglio on Wednesday, people familiar with the matter said.

Monte Paschi’s board met Monday and Tuesday 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, the people said, asking not to be identified discussing private information. Directors adjourned the meeting for a third day after requesting further assessment of the situation, they added.