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UniCredit To Hold Extraordinary Board Meeting On Sunday : Report

Italian lender UniCredit's (UCG,UNCFF.PK) board will hold an extraordinary board meeting on Sunday to discuss governance, ahead of the expiration of its Chief Executive officer Jean Pierre Mustier's term in April, Italian newspaper Il Sole 24 Ore reported citing people familiar with the matter.

The report said that the meeting will focus on the conditions under which the executive could stay once his term expires.

He is reportedly clashed with some board members in recent months over his approach to M&A, arguing that the bank should ignore accelerating consolidation in its local market.

Earlier this year, UniCredit confirmed that its Jean Pierre Mustier would remain in his role, following media reports that he emerged as a candidate for the top job at Asia-focused lender HSBC Holdings Plc (HSBC, HSBA.L).

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