Unicredit CEO reportedly resigns over boardroom showdown provoked by shareholder

Unicredit CEO Profumo reportedly resigns

MILAN — Italian news agency ANSA says Unicredit CEO Alessandro Profumo has resigned from the helm of Italy’s largest bank.

ANSA quoted Profumo’s wife as confirming his resignation as she left his lawyers’ offices on Tuesday. Sabina Ratti told reporters that the board had requested his resignation and that he had signed it.

He had left the bank hours earlier after a board meeting where he was fighting for his survival.

Profumo was forced out after losing support from a key shareholder, in what analysts said has become a political battle for control of the bank.

Unicredit has not officially commented or issued a statement.