Italian insurer Cattolica revokes powers of CEO

The board of Cattolica Assicurazioni has revoked the powers of Chief Executive Alberto Minali citing differences over the company's structure, strategy, relations with shareholders and the market, the company said in a statement on Thursday.

MILAN, Oct 31 (Reuters) - The board of Cattolica Assicurazioni CASS.MI has revoked the powers of Chief Executive Alberto Minali citing differences over the company's structure, strategy, relations with shareholders and the market, the company said in a statement on Thursday.

It said all of the CEO powers had been transferred to the insurer's Managing Director Carlo Ferraresi.

Minali, a former CFO at bigger rival Generali GASI.MI, had been at the helm of Cattolica since June 1, 2017.

(Reporting by Elvira Pollina, editing by Silvia Aloisi)

((elvira.pollina@thomsonreuters.com; 0039 0266129486; Reuters Messaging: elvira.pollina.thomsonreuters.com@reuters.net))

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