MILAN (Reuters) - The chief executive of Italian lender Banca Carige (MI:CRGI) rejected accusations that he kept fellow directors in the dark on key decisions, in a boardroom row that threatens to undermine the bank's efforts to return to full health.
The row became public this week with the exit of Chairman Giuseppe Tesauro who, in remarks to two newspapers, accused CEO Paolo Fiorentino of acting too independently and wanting to turn Carige into "a public company where he alone has a say".
The Genoa-based bank has long been dogged by governance issues and hired Fiorentino a year ago to turn itself around. A former UniCredit banker, he pulled off a risky capital increase in December to stave off a risk that the bank could be wound down.
"All of the many decisions that have been taken over the past year have gone through the board and on some key moves there have multiple board discussions," Fiorentino told Reuters in a telephone interview. "We've also introduced preparatory board meetings ahead of the actual approval of given measures."
Earlier, in comments published in La Stampa and Il Sole 24 Ore, outgoing chairman Tesauro said Fiorentino had made his job almost impossible by withholding information. Attempts by Reuters to reach Tesauro for comment were not immediately successful.
Carige said on Tuesday the chairman had resigned over disagreements on the bank's governance and management. On Wednesday, also independent director Stefano Lunardi resigned citing the same reasons. The announcement came after Reuters spoke to Fiorentino.
"I found it odd that Tesauro spoke of a public company," the CEO said.
"If he means that Carige is trying to make sure all shareholders, small and large, receive the same amount of information and equal protection of their interests then that's one of my goals and one of my duties and the top shareholder is behind me on that," he added.
He said he spoke frequently with Malacalza, who is Carige's deputy chairman and the top shareholders with a 20.6 percent stake after backing two cash calls in the past three years.
Fiorentino arrived at Carige in July 2017 after Malacalza fell out with the previous CEO Guido Bastianini. A local businessman, Malacalza had also pushed out Bastianini's predecessor.
"There is an active relationship (with Malacalza) both within the board and in private meetings ... I was named by the board and I'll go on doing my job as long as I have the board's support."