Alessandro Profumo, UniCredit's CEO, has quit after controversy surrounding stakes held in the bank by Libyan authorities. Chairman Dieter Rampl will take over Mr Profumo's duties on an interim basis.
The resignation comes after the Libyan Investment Authority (LIA) increased its stake in UniCredit to 2.59% from 2.08% in August 2010, raising Libya's combined holdings of UniCredit to 7.2%.
