Monte dei Paschi Board Revokes CEO Powers

Part of Major Corporate CEO Changes

Banca Monte dei Paschi di Siena's board revoked CEO Luigi Lovaglio's executive powers on March 26, 2026, following a governance clash and subsequently nominated Fabrizio Palermo as his successor, raising concerns about Mediobanca integration risks. On March 25, the board initially nominated Fabrizio Palermo as its chief executive candidate. The following day, Monte dei Paschi's board formally removed Luigi Lovaglio from his executive duties. On April 2, the ousted CEO Luigi Lovaglio stated that this change raises Mediobanca integration risks for the bank.