MPS CEO Luigi Lovaglio has canceled scheduled investor meetings intended to present the integration plan with Mediobanca announced on February 27.

The news was reported by two sources close to the matter.

MPS was not immediately available for comment.

The bank's board of directors has excluded Lovaglio from the slate of candidates for the board renewal, naming three other potential CEOs: Fabrizio Palermo, Corrado Passera, and Carlo Vivaldi.

(Reporting Valentina Za, Giuseppe Fonte, editing by Claudia Cristoferi and Sabina Suzzi)