By Pietro Lombardi

Intesa Sanpaolo SpA (ISP.MI) said Tuesday that board member Corrado Gatti has decided to be put on a voluntary suspension in a move linked to his involvement in procedures at Italy's Astaldi SpA (AST.MI).

The suspension is effective as of Dec. 13 and will run through the end of March.

Mr. Gatti made the decision for personal reasons, the bank said, and for the sake of the Intesa Sanpaolo board as he is involved in procedures related to Astaldi, a construction company currently under a credit-protection procedure. It was forced to seek protection from creditors last year after failing to meet debt-repayment deadlines.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

December 17, 2019 04:09 ET (09:09 GMT)

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