After challenging the board of directors, Banca Monte dei Paschi di Siena dismissed Lovaglio as CEO.
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The board of directors has revoked Lovaglio’s CEO powers and suspended his position as general manager because he joined the rival camp’s candidate list in the election, attempting to retain his original post. The bank stated that it reserves the right to make any appropriate assessments regarding the PLT candidate list, including whether it complies with applicable corporate and regulatory requirements. Expand
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