BPM chairman, three directors resign from bank

(ANSA) – Milan, November 8 – The chairman and three board members resigned Friday from Banca Popolare di Milano.

Chairman Andrea Bonomi and was joined by Davide Croff, Alessandro Foti and Dante Razzano in submitting their resignations which will take effect next month when shareholders meet to elect a new board of directors.

That meeting is scheduled for December 21.

The bank said the resignations were given to enable its supervisory board to work more effectively “in the interests of the institution (and) a stable and sustainable management”.