Jean Pierre Mustier

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November 30, 2020 The Team23 strategic plan, presented by the ad a year ago (December 3), and its founding pillars "are no longer in line with the current vision of the Board of Directors": these are the words of the CEO of Unicredit

Jean Pierre Mustier

.

"Consequently, I made the decision to leave the Group at the end of my term in April 2021, in order to allow the Council to define the future strategy," he added.

"We have successfully implemented the Transform 2019 plan and, as a result, we are in a strong position to continue to support our customers and communities in all our countries while remaining a truly winning pan-European Group."



With the choice of

Pier Carlo Padoan

as chairman designate, it is now possible, according to what the bank has announced, to start work on the future composition of the Board of Directors.

Mustier will remain in office until the end of his term or until a successor is appointed to ensure an orderly transition.   



The designated chairman Pier Carlo Padoan and the Unicredit Board of Directors will start a search, both inside and outside the Group, to identify the new CEO following an accurate and rigorous selection process that reflects the Group's commitment to ensure a solid corporate governance.

It can be read in the note announcing Mustier's decision not to reapply.



Jean Pierre Mustier

he was appointed CEO of the Group in July 2016, having previously held the position of Deputy General Manager, Head of Corporate and Investment Banking (2011-15). Thanks to the implementation of the Transform 2019 strategic plan, Mustier will have completed the renewal of the Group, which is "considerably strengthened both financially and operationally, allowing it to face the economic consequences of the unprecedented crisis linked to Covis-19 in complete safety", says a Unicredit note. 



"I believe that UniCredit owes a lot to Jean Pierre, who took the reins of the Group in a very delicate moment, succeeding in an extraordinary turnaround, successfully completing the Transform 2019 Plan and firmly guiding the Group through the crisis that began with the pandemic of Covid-19. I am sorry for today's decision, which nevertheless shows once again the professionalism of Jean Pierre and does nothing but increase my esteem for him ", commented the president

Cesare Bisoni.