UniCredit CEO Jean Pierre Mustier to Retire in April 2021

UniCredit, an Italian global banking and financial services company, has announced that its current CEO, Jean Pierre Mustier, has informed the board of directors that he will be retiring from his role at the end of his mandate which expires in April 2021.

Following the successful implementation of the Transform 2019 strategic plan, by the end of this term Mr Mustier will have completed an extensive revamp of the Group that considerably strengthened it both financially and operationally and has allowed UniCredit to withstand the unprecedented COVID-19 related economic upheaval from a position of strength. With the nomination of Professor Pier Carlo Padoan as chairman designate, the work on the future board composition can now be initiated. Mr Mustier will remain in his post to ensure a smooth transition, either until the end of his mandate or until a successor has been appointed.

Mr Mustier was appointed as UniCredit's Group CEO in July 2016, having previously held the role as Deputy General Manager, Head of the Corporate and Investment Banking from 2011 to 2015.

The chairman designate and the UniCredit board of directors will undertake a wide-ranging external and internal search for a replacement for Mr Mustier following a thorough and rigorous selection process, reflecting the Group's commitment to strong corporate governance.