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UniCredit: ex-Finance Minister appointed as new chairman

( - UniCredit said its board of directors unanimously co-opted Pier Carlo Padoan as a non-executive director on Tuesday, before a shareholders' meeting formally installs him as chairman.

The Italian lender said its board, with the support of a taskforce composed of independent directors, found that Padoan was "the best candidate" for the position as chairman for the next term (2021-2023).

Padoan - who was Italy's Minister of Economy and Finance between 2014 and 2018 - will serve as a board member until the annual general meeting approves the 2020 financial results, and at which a new board will be elected, UniCredit said.

Padoan said he intends to stand down from his mandate as member of Parliament.

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