Capitalia War of words

The war of words between Cesare Geronzi and Matteo Arpe about Capitalia’s future has certainly got the Milan rumour mill churning. The Italian press has been full of stories about Capitalia’s chairman having lost patience with his chief executive. The message has been simple and brutal: he wants Arpe out. It’s not clear whether actually Geronzi has the support to remove Arpe. Much depends on Capitalia’s shareholders’ pact, whose unanimous approval is needed. One member, Fondazione Manodori, has...