GENERALI RESTRUCTURING CREATES INTERNATIONAL ROLE

Generali’s board has approved the revamped organisational structure proposed by the company’s recently appointed chief executive Philippe Donnet. Mr Donnet joined Generali in March 2016 after former CEO Mario Greco left the company to lead rival European insurer Zurich Insurance. The new structure includes a new function, called Global Business Lines & International, reporting directly to the group CEO. The move consolidates the existing Global Business Lines unit and the non-European regions. The CEO of AXA in Italy, Frédéric de Courtois, joins Generali in September to take on the new role. The company also announced that Carsten Schildknecht, group chief operating officer will leave the group on July 31, 2016. It also announced the separation of the role of Italian country manager (to whom the CEO of Generali Italia, Alleanza Assicurazioni, Genertel, Genertellife, DAS. and Banca Generali report) from that of CEO of Generali Italia.