Intesa says CEO's departure to improve bank's potential

Mon Sep 30, 2013 7:05am EDT
 
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MILAN (Reuters) - Enrico Cucchiani's decision to step down as Intesa Sanpaolo's (ISP.MI: Quote) Chief Executive will help Italy's biggest retail lender to reach its full potential, the bank said in a statement on Monday.

Cucchiani, at the helm of Intesa Sanpaolo since late 2011, stepped down abruptly late on Sunday. Insiders have told Reuters he was ousted after a management clash.

(Reporting by Francesca Landini; Editing by Lisa Jucca)