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Press release

Further to the announcement made on June 30, 2016, regarding the termination of Federico Ghizzoni's UniCredit service contract, the bank makes the following disclosure after having reached a revised agreement with Mr Ghizzoni:  

 

Thanks to the smooth handover and transition of the new management team, it has been today agreed between the parties 

-      that for compensation purposes, bring forward, to September 30, 2016 the date agreed for the termination of the employment contract;

-      to reduce the amount of the severance  pay by an amount corresponding to two months of notice, equal  to euro 660,605 gross.

The other elements of the agreement such as the deferred payments - in cash and shares, over a period of five years in line with regulatory provisions - are confirmed.



Milan, October 26, 2016

 

 

 

Enquiries:

 

Media Relations

tel +39 02 88623569

e mail: mediarelations@unicredit.eu

 

Investor Relations

tel +39 02 88621872

e mail: investorrelations@unicredit.eu