Monte dei Paschi di Siena’s CEO departs

Italian banking group Banca Monte dei Paschi di Siena (MPS) has announced its CEO Fabrizio Viola “has expressed his availability to work with the chairman to find an agreement to terminate his contract.”

During a session between the MPS’ board of directors and Viola on 8 September, both parties “agreed upon a change of the head of the bank”.

The firm said Viola has agreed to stay in office until the appointment of his successor.

Viola spent over four years at MPS he joined when the bank was facing hard times. He is to leave the company after he designed a plan that includes a structural and final solution to the NPLs issue, that was presented in July.

MPS said the board of directors has initiated the CEO succession process, aiming to identify the new CEO in short term.

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