Geronzi will replace current chairman Antoine Bernheim at the head of Generali, while French industrialist Vincent Bollore will become vice-chairman. On Friday, Mediobanca said its appointments committee had met to draw up a list of proposed appointments to Generali’s board of directors, a process it said would “be completed by mid-way through next week.”

The person however said the committee already reached a deal on the leadership according to which Geronzi would become chairman. The nomination of candidates will be approved by Generali’s shareholder assembly on April 24 after which the board will elect its chairman. Mediobanca, a pillar in the Italian economy with large stakes in many companies, is the main shareholder of Generali with 14.7 percent.

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