UniCredit today announced that the Chairman of the Board of Directors, Mr. Giuseppe Vita, has asked the Board to reduce his remuneration by 40 per cent as of January 1, 2017.

This decision is consistent and in line with the announcement made at the group's Capital Markets Day December 13, 2016 that the Chief Executive Officer, Mr. Jean-Pierre Mustier had requested the board reduce his fixed compensation by 40 per cent.

In the same spirit, the three Vice Chairmen - Mr. Vincenzo Calandra Buonaura, Mr. Luca Cordero di Montezemolo and Mr. Fabrizio Palenzona - have also asked the Board to reduce their special remuneration pursuant to art. 2389 3rd par. of the Italian Civil Code by 40 per cent, effective January 1, 2017.