Last weekend, after a special meeting of the supervisory board, Volkswagen announced a broad management shakeup to help him lead the company as it heads into a new, and perhaps bumpy, growth phase.
This week, the Bank of Italy released a statement in Italian saying that the "true nature of certain transactions regarding the Monte dei Paschi di Siena reported in the press has emerged only recently, following the discovery of documents kept hidden to the supervisory authority and brought to light by the new management of MPS".
This is in contrast to the two-tier boards of German companies, which have an executive management board overseen by a non-executive supervisory board.
The report by the Financial Services Authority (FSA) said the bank nearly folded in 2008 due to poor management decisions, inadequate regulation and a flawed supervisory system.