Rome, Italy - Assicurazioni Generali has approved the mutually agreed termination of all existing relations between Mario Greco and the company, on February 9, 2016.
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This follows the announcement by Mr. Greco on the 26th January 2016, that he would not be available to serve a further mandate as Group Chief Executive Officer. Mr. Greco has been a member of the board of directors and group CEO of Assicurazioni Generali since 1 August 2012.
He graduated in economics from Rome University in 1983 and in 1986 was awarded a master's degree in international economics and monetary theory by Rochester University, New York, USA. He started his career in 1986 at McKinsey & Company, where he worked until 1994.
In 1995 he moved to RAS, working as head of the claims division. In 1996 he became general manager and in 1998 managing director. In 2000 he was appointed chief executive officer of the company. In 2004 he joined the executive board of Allianz AG and in the same year he was named Insurance CEO of the Year.
In 2005 he became CEO of EurizonVita (Sanpaolo IMI Group) and CEO of Eurizon Financial Group. In 2007 he joined Zurich Financial Services as deputy CEO of Global Life, where, in 2008, he assumed the role of CEO and member of the executive committee.
In 2010 he was appointed CEO General Insurance at Zurich Insurance Group, a position he held until July 2012. Mr. Greco is Chairman of the Board of Directors of Generali Italia S.p.A. since 6 November 2014.
The Board of Directors has resolved to assign temporarily the powers of Group CEO to the Gabriele Galateri di Genola, Chairman of the Company, formerly attributed to Mr. Greco, pursuant to the Group’s provisions for succession planning.
Mr. Galateri di Genola was appointed chairman of Assicurazioni Generali on 8 April 2011.
He holds a degree in law and an MBA from Columbia University. He was appointed CEO of IFIL in 1986 and CEO and general manager of IFI in 1993; subsequently, in 2002, he was appointed CEO of Fiat.
From 2003 to June 2007 he was chairman of the board of directors of Mediobanca. From 2003 to 2010 he was vice-chairman and a member of the board of directors of Generali. From 2007 to 2011 he was chairman of Telecom Italia SpA, where he was a member of the board of directors until April 2014. ■