By Joshua Kirby


Assicurazioni Generali SpA has named its proposed new chairman after the incumbent last month said he would step down at the end of his term amid shareholder tensions.

The Italian insurer said late Monday that Andrea Sironi will be put forward as the board's candidate for chairman on the list for the coming renewal of the board of directors.

Mr. Sironi is currently chairman of the Italian stock exchange, the Borsa Italiana, and has also served presently or formerly on the boards of banks UniCredit SpA, Intesa Sanpaolo SpA and Cassa Depositi e Prestiti, Generali said.

In February, current Generali Chairman Gabriele Galateri di Genola said he would not seek re-lection to the board at the end of his term, citing tensions with high-profile shareholders over the management of the company. Mr. Galateri di Genola welcomed Mr. Sironi's decision to stand for chairman, pointing to his experience serving on the boards of major European financial institutions.

Mr. Sironi has been appointed as one of three new independent directors on Generali's board, alongside Alessia Falsarone and Luisa Torchia, the company said.


Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby 


   Corrections & Amplifications

This stroy ws corrected at 0810 GMT. The original, in the fourth paragraph said Mr. Galateri di Genola had said he would resign from the board at the end of his term. He isn't seeking re-election at the end of his term.

(END) Dow Jones Newswires

03-01-22 0219ET