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Report: CEO of Italian state bank Cassa depositi e prestiti to resign

Fabio Gallia will resign as CEO of Italian state lender Cassa depositi e prestiti SpA, people close to him told the Financial Times.

The move, along with Chairman Claudio Costamagna's decision to step down, is part of an expected widespread overhaul as Italy's newly installed populist government looks to replace some top executives at Italian firms with its own people, the FT reported June 6.

Sources added that former Banca Monte dei Paschi di Siena SpA Chairman Massimo Tononi is a top choice to replace Costamagna at the state bank.