Francesco Profumo has dissolved his reservations and resigned from the presidency of the Compagnia di San Paolo, a foundation he led for two consecutive terms. Profumo’s mandate would naturally expire with the approval of the 2023 financial statements by the General Council in April.
As stated in a press release, the Compagnia di San Paolo reaches the end of the mandate of the foundation’s bodies “with the awareness of having achieved a path of innovation in recent years, evolving towards a hybrid foundation model and confirming itself as a point of reference for the Italian and international philanthropy, as well as an agent of sustainable development of the territories, which always places the person at the center in its work, with constant attention to the younger generations and an eye towards the future”.
The results were achieved, we can read in the foundation’s note, thanks to the significant contribution of high quality governance and a structure of great professionalism and competence, authoritatively led by the Secretary General. Even from an economic-financial point of view, the Compagnia di San Paolo confirms itself as a very solid philanthropic institution, with assets that at the end of 2023 approached historic highs and with a performance in terms of return that last year also placed among the highest levels in the life of the Foundation. This is thanks to prudent and far-sighted management, inspired by the principle of safeguarding, valorising and increasing assets for future generations. All this has found in the recent and profound revision of the statute a fundamental opportunity for structural consolidation, as a further guarantee of the stability and continuity of the strategic approach for the years to come.
“In light of the considerations presented above, I realized that the possibility of leaving the office of president shortly before the natural expiry of the mandate would not cause difficulties either on an institutional or operational level”, explained Profumo himself.
This is dictated, he continued, “by the awareness that I now consider my role at the helm of the foundation substantially and completely concluded; a role in which I have made available, with a spirit of service, my wealth of experience and skills. This choice derives from , also, from the respect I have for this very important secular institution, which I believe should be preserved as much as possible, even more so today, from the dynamics linked to changes in governance. Therefore, I will resign from the position of President of the Compagnia di San Foundation. Paolo on 22 February 2024”.
“On this occasion – concluded the president, “I would first of all like to renew my heartfelt thanks to all those who gave me the opportunity to carry out this role. I thank the Secretary General for the active and constant contribution ensured in these years of intense activity , all the members of the Management Committee, of the General Council, of the Board of Auditors of the Compagnia di San Paolo Foundation; I then thank the entities and all the people of the Compagnia di San Paolo Foundation Group. Finally, thanks to the young people of the Young Advisory Board of the Compagnia di San Paolo Foundation”.
In a recent interview with La Stampa, Profumo had outlined the identikit of his possible successor who should «not have conflicts of interest, have a system of relationships not only in Turin and Piedmont but also at a national and international level that allows him to talk to whoever is necessary without intermediaries and finally have an institutional profile. He or she must have managed complex institutions.”