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DELLA VALLE STEPS DOWN: Diego Della Valle is not afraid of speaking his mind, as he did six years ago when he publicly challenged Italy’s Prime Minister Silvio Berlusconi over one of Italy’s main newspapers, Corriere della Sera. Now Della Valle, chairman and chief executive officer of Tod’s SpA, who has personal investments that include, among others, RCS MediaGroup, which owns Corriere della Sera, and sits on the board of giant insurer Assicurazioni Generali SpA, has initiated a shake-up of Italy’s financial world, a tightly knit clique, established and consolidated over the years.
Earlier this month, Della Valle suggested the board of Generali sell its shares in RCS to focus on its core business, in a controversy with Generali president Cesare Geronzi. On Monday, Leonardo Del Vecchio, chairman of Luxottica Group SpA, resigned from the board of Generali, also in disaccord with Geronzi, according to sources.