Home » Generali terminates employment relationship with Cirinà, “serious violations of contractual obligations”

Generali terminates employment relationship with Cirinà, “serious violations of contractual obligations”

by admin
Generali terminates employment relationship with Cirinà, “serious violations of contractual obligations”

MILAN. The rift between Generali and its manager, Luciano Cirinà, candidate for CEO by Francesco Gaetano Caltagirone, reaches its extreme consequences. The now former head of Austria and Central-Eastern Europe who first participated in the preparation and presentation of the Lion’s plan written by the current to Philippe Donnet and later, as an aspiring head of the company, also contributed to writing and illustrating the counter-program for the antagonist list to that presented by the outgoing board, he was fired by the company.

“The board of directors of Assicurazioni Generali, which met under the chairmanship of Gabriele Galateri di Genola, has decided to terminate the employment relationship with Luciano Cirinà with immediate effect”, reads a note issued by Leone. “The decision – it is specified – is motivated by the violation of the obligations of loyalty and the serious violation of other obligations under the employment contract”.

The decision comes after, on Friday, in Milan, Cirinà took part in the presentation of the counter-plan with which he aims to oust Philippe Donnet from the leadership of Generali at the meeting on 29 April. Alongside Claudio Costamagna he presented an aggressive program entitled “Awakening the Lion” which foreshadows for the company an annual step in profit growth (over 14%) almost double compared to the Donnet plan (+ 6/8%), a greater cost savings (0.6 billion versus 0.3) and a 7 billion acquisition campaign, instead of the 3 fielded by the French manager’s plan.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy