The Board of Directors of UniCredit, in view of the identification of Andrea Orcel as the candidate for the position of Chief Executive Officer at the next Shareholders' Meeting scheduled for 15 April 2021 and today's approval of the results as at 31 December 2020, has agreed with Jean Pierre Mustier to end his employment relationship as UniCredit's Chief Executive Officer and General Manager with effect from tomorrow 11 February 2021.
In order to ensure full managerial continuity, pursuant to Article 21, paragraph 5, of the Articles of Association, the Board of Directors has appointed Ranieri de Marchis as General Manager of UniCredit S.p.A. He has been assigned all the powers currently attributed to the Chief Executive Officer and will remain General Manager until the appointment of the new CEO.
Ranieri de Marchis will retain his current position of co-COO of the Group.
The selection process was coordinated by the Corporate Governance, Nomination and Sustainability Committee.
Cesare Bisoni, Chairman of UniCredit, said: "On behalf of the Board of Directors and all UniCredit, I thank Jean Pierre Mustier for having successfully led the Group over these past years. With his extensive experience, Ranieri will guarantee operational continuity and progress on our Group's objectives, until Andrea Orcel's appointment as Chief Executive Officer following the Shareholders' Meeting".
After holding a number of senior positions in General Electric Group since 1990, Ranieri de Marchis joined UniCredito Italiano S.p.A in 2003 as Group CFO. From 2005 to 2009 he also covered the role of Deputy General Manager. In 2009, Mr. de Marchis was appointed Head of Internal Audit and in 2016, co-Chief Operating Officer, a role which he still covers to this day.
The curriculum vitae of Ranieri de Marchis is available on the UniCredit website (www.unicreditgroup.eu).
Milan, 10 February 2021
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