Intesa says CEO's departure to improve bank's potential

Published September 30, 2013

| Reuters

Enrico Cucchiani's decision to step down as Intesa Sanpaolo's Chief Executive will help Italy's biggest retail lender to reach its full potential, the bank said in a statement on Monday.

Cucchiani, at the helm of Intesa Sanpaolo since late 2011, stepped down abruptly late on Sunday. Insiders have told Reuters he was ousted after a management clash.

(Reporting by Francesca Landini; Editing by Lisa Jucca)

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