Monte Paschi says new management is not target of investigation

MILAN | Fri Aug 23, 2013 1:41pm EDT

MILAN (Reuters) - Italy's Monte dei Paschi di Siena (BMPS.MI) said its new management was not the target of any judicial investigation and that accusations it misled regulators had not been considered legally relevant by prosecutors probing the bank's former executives.

The bank issued a statement on Friday after a document submitted by market regulator Consob alleged the bank provided incomplete, incorrect and misleading information to the watchdog in 2012, when its new management was already in place.

Consumer group Codacons, which first revealed the existence of the Consob document, seized on the allegations to call for the removal of the bank's new management.

(Reporting by Silvia Aloisi; Editing by Agnieszka Flak)

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Monte Paschi says new management is not target of investigation

MILAN | Fri Aug 23, 2013 1:41pm EDT

MILAN (Reuters) - Italy's Monte dei Paschi di Siena (BMPS.MI) said its new management was not the target of any judicial investigation and that accusations it misled regulators had not been considered legally relevant by prosecutors probing the bank's former executives.

The bank issued a statement on Friday after a document submitted by market regulator Consob alleged the bank provided incomplete, incorrect and misleading information to the watchdog in 2012, when its new management was already in place.

Consumer group Codacons, which first revealed the existence of the Consob document, seized on the allegations to call for the removal of the bank's new management.

(Reporting by Silvia Aloisi; Editing by Agnieszka Flak)

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Ethics and management in the public sector / Alan Lawton, Julie Rayner and Karin Lasthuizen.

Sorry, I could not read the content fromt this page.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Siemens' board to meet at weekend to discuss management: sources

MUNICH | Fri Jul 26, 2013 8:20am EDT

MUNICH (Reuters) - Members of Siemens' (SIEGn.DE) supervisory board will meet at the weekend to discuss the German engineering group's management, two people familiar with the matter said on Friday, days after Siemens abandoned its 2014 profit margin target.

Pressure is building on Chief Executive Peter Loescher who is seen as struggling to turn Siemens around.

Shares in the company turned positive after the news, gaining 1.6 percent higher at 79.85 euros by 1215 GMT.

Supervisory board members representing Siemens workers and shareholders will meet separately ahead of a joint meeting scheduled for Wednesday, the sources said.

Siemens' supervisory board has 20 members and, as is customary in Germany, half of them represent the interests of workers and the other half those of shareholders.

The group, which is due to publish its third-quarter results on Thursday, declined to comment.

(Reporting by Jens Hack; Writing by Maria Sheahan; Editing by Louise Ireland and Christoph Steitz)

View the original article here

Siemens' board to meet at weekend to discuss management: sources

MUNICH (Reuters) - Members of Siemens' supervisory board will meet at the weekend to discuss the German engineering group's management, two people familiar with the matter said on Friday, days after Siemens abandoned its 2014 profit margin target.

Steitz)

Pressure is building on Chief Executive Peter Loescher who is seen as struggling to turn Siemens around.

Shares in the company turned positive after the news, gaining 1.6 percent higher at 79.85 euros by 1215 GMT.

Supervisory board members representing Siemens workers and shareholders will meet separately ahead of a joint meeting scheduled for Wednesday, the sources said.

Siemens' supervisory board has 20 members and, as is customary in Germany, half of them represent the interests of workers and the other half those of shareholders.

The group, which is due to publish its third-quarter results on Thursday, declined to comment.

(Reporting by Jens Hack; Writing by Maria Sheahan; Editing by Louise Ireland and Christoph

View the original article here