UniCredit Shareholders Approve Board-Governance Amendments

UniCredit SpA's (UCG.MI) shareholders have approved corporate-governance amendments proposed by the board of directors, the Italian bank said on Monday.

UniCredit said the approved amendments included granting the board the power to submit its own list of candidates for the director's office in case of board renewal. Other backed changes include the elimination of the 5% limit for the exercise of the voting rights, the mandatory conversion of savings shares into ordinary shares and the transfer of the registered office from Rome to Milan, as well as other measures aimed to ensure that minority shareholders have a greater presence on the board.

UniCredit said that shareholders approved the appointments of two permanent statutory auditors: Guido Paolucci, in place of Enrico Laghi, and Antonella Bientinesi to replace Maria Enrica Spinardi.

Both UniCredit's ordinary and extraordinary shareholders' meeting and the special meeting of savings shareholders were held today in Milan.

Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

December 04, 2017 13:14 ET (18:14 GMT)