Jean-Pierre Mustier will resign as chief executive of Unicred next April, the bank said in a statement.
The sharp decision by Mr Mustier’s unexpected decision on the Italian nder donor headline on Monday afternoon came after a heated board meeting on Monday afternoon, with several people involved.
“Over the last few months, it has become clear that Team 23 is a strategy [his business plan for the bank] And its core pillars are no longer in line with the board’s current thinking, “Mr said in a statement.
“Therefore, I have decided to retire from the group at the end of my mandate in April 2021 to explain the future strategy to the new board in detail.”
Several people involved in the talks said tensions had risen after a last-minute informal meeting between Unicred’s board on Sunday night, where administration issues were discussed.
Board members have told Mr Mustier that they want to keep an eye on other candidates for the top job, said three people involved in the talks. Former UBI Bunker chief executive Victor Massiah, Nexi CFO Bernardo Mingron and Poste Italian chief executive Matteo del Fant are among the top external candidates, according to the public.
The issue of the relationship between Mr Mustier and the board members had been raised over the past few months, the public said. They said plans to expel Italian assets and a list of foreign assets in Germany, as well as the Italian government’s refusal to buy Monte de Paschi di Siana at its request, were the main reasons for its downfall, they said.
People close to Mr Mustier had previously insisted that he was always open to considering the acquisition of Monte de Paschi if the operation was “cost-neutral for Unicred”.
In February, Mr. Mustier withdrew from the race for the top job at HSBC. The board of directors of the bank identified him as the preferred external candidate.