By Ed Frankl

Assicurazioni Generali SpA said Friday it has appointed Azzurra Capital Chief Executive Stefano Marsaglia to its board of directors, replacing Francesco Gaetano Caltagirone, who quit in May.

The board chose Mr. Marsaglia from a list of a rival board slate drawn up by Mr. Caltagirone that threatened to topple the Italian insurer's CEO Philippe Donnet in April.

Generali said the board judged that the rival slate's choice for CEO, Luciano Cirina, didn't meet the requirements for appointment to the board.

Other candidates who received favorable votes by the majority of the board to join included the former vice president of Citigroup Inc.'s Institutional Clients Group, Alberto Cribiore, and Unilever PLC Chief Legal Officer Maria Varsellona, but they stipulated a unanimous vote as the condition for their acceptance, Generali said.

Mr. Marsaglia joins as an independent director, the company added.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

July 15, 2022 10:51 ET (14:51 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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