MILAN (Reuters) - It would be risky for Intesa Sanpaolo (BIT:ISP) to pick a new chairman when it appoints new directors next year because half of them will also need to change, the chief executive of Italy's largest bank said on Tuesday.
Asked whether Francesco Profumo, who recently resigned from a banking foundation that is among Intesa (LON:0HBC)'s shareholders, could be a possible new chairman, CEO Carlo Messina said a change was not a good idea.
"The heads of the various board's committees will need to change because they can no longer be considered as independent directors [after a number of mandates]," Messina told a press conference.
"I have great respect for Profumo and I think he could lead anything. However, Intesa's chairmanship is in very good hands and keeping it that way could shield the bank from operational and governance risks," he said.