What is happening in RCS of Cairo?
Surprise resignation of Gaetano Micciché, top manager of the Intesa Sanpaolo group, from the board of directors of RCS chaired and led by Urbano Cairo. Facts, names, rumors and insights
Gaetano Miccichè, "due to his current commitments and those he plans to undertake in the next period, has resigned, with immediate effect, his resignation from the position of director of RCS MediaGroup". This was announced by the publishing group, which on Friday is planning the Board of Directors on the half-year accounts. RCS thanks the banker and "expresses its gratitude for the contribution made in recent years, starting with the 2016 Public Purchase and Exchange Offer and, subsequently, as a member of the Company's Board of Directors".
"I learned about Gaetano Micciché's choice and I wish to send him my best wishes for his future professional commitments and thank him very heartily for the generous and passionate contribution he has given to RCS and me over the years, starting with Opas", commented Urbano Cairo, president and managing director of the group that edits Corriere della Sera among other things, as well as the main shareholder of the publishing group with 59% of the shares.
The manager of the Intesa-Sanpaolo group, the bank that at the time of Urbano Cairo's takeover of RCS, had financed the operation, and who had been elected to the board of directors precisely from the list presented by Cairo, will not participate in the board of directors. administration scheduled for Friday 30 July for the approval of the half-yearly accounts.
An appointment, that of the RCS board of directors scheduled for July 30, in which "the issue of RCS's failure to allocate a sum to cover the risk of a possible loss in court in the face of the request could also be addressed of compensation advanced by Blackstone ”, underlined Repubblica .
Who knows if there is also a link between Micciché's exit and this affair that saw Cairo against Blackstone but also, indirectly, against Imi-Intesa .
Meanwhile, rumors continue to circulate in Milan about upcoming share reorganizations in RCS with the entry or return of Milanese entrepreneurs in the capital of Rizzoli-Corriere della Sera, all supported by Intesa .
ALL THE INSIGHTS OF START MAGAZINE ON RCS, CAIRO AND THE BLACKSTONE CASE:
Rcs: Rotelli and Pesenti up, Cairo down?
RCS, here's how Cairo crashed into Blackstone
Cairo care for Rcs accounts
Rcs paper war on Cairo indemnity for Blackstone
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/che-micciche-succede-in-rcs-di-cairo/ on Tue, 27 Jul 2021 14:22:19 +0000.