Monte dei Paschi chairman and CEO to remain at their posts
In spite of shareholders' lack of support for their strategy14 January, 18:59
Profumo and Viola had reportedly said they would quit if shareholders did not get behind their plan for a crucial three-billion-euro share sale this month. Shareholders delayed that issue until May, prompting regulators from the Bank of Italy and stock-market watchdog Consob to launch what they termed ''coordinated monitoring'' of the troubled Italian bank.
The planned rights issue was tied to paying back part of a 4.1-billion-euro State aid package aimed at turning the ailing lender around.
The bank could be nationalized if it fails to raise enough cash to pay the State back, analysts said.