Ettore Gotti Tedeschi, president of the Vatican bank, was fired yesterday by the bank's board of directors, who censured him for neglecting his duties amid worsening management problems, reports the Catholic News Service.
The board of the bank, formally known as the Institute for the Works of Religion, issued an unusually blunt statement through the Vatican Press Office, noting that members had repeatedly expressed concern to Gotti Tedeschi about the bank's "governance," but that the "situation has deteriorated further."
The statement said that the board voted to censure Gotti Tedeschi "for not having carried out various functions of primary importance to his office," but did not specify the functions in question.
Pope Benedict XVI named Gotti Tedeschi, an Italian banker and professor of financial ethics at the Catholic University of the Sacred Heart in Milan, as president of the bank in 2009. The appointment was seen at the time as a move toward greater transparency in the bank's operations.
FULL STORY Vatican bank board fires president, citing neglect of duties (CNS)?
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