Tim’s Board of Directors, which met today under the chairmanship of Salvatore Rossi, “took note of the remission of proxies by Luigi Gubitosi and, having accepted it, resolved to revoke Luigi Gubitosi from the positions of CEO and general manager of the company and from the related powers, thus proceeding with a reorganization of the governance and reallocation of the proxies “. This was announced by the Italian telecommunications operator in a Gubitosi, who holds 3,957,152 shares of Tim, remains a director.
The president of Tim Salvatore Rossi, on behalf of the entire Board of Directors, reads the note, “expresses his heartfelt thanks for the work done by Gubitosi”. The chairman of Tim, Salvatore Rossi has been assigned responsibilities and powers relating to Partnership & Alliances, Institutional Communications, Sustainability Projects & Sponsorship, Public Affairs, as well as the responsibility for managing assets and Tim’s activities of strategic importance for the defense system and national security. This was announced by Tim in a statement at the end of the Board of Directors.
PIETRO LABRIOLA NEW GENERAL MANAGER
At the proposal of the Appointments and Remuneration Committee, in application of the company’s succession plan, the Board of Directors “resolved to appoint as general manager, Pietro Labriola, who will maintain the position of CEO of the subsidiary Tim sa, determining his attributions, faculties and powers, in so as to guarantee absolute continuity and stability in company management. The aforementioned resolutions are subject to the communications and decisions of all the Authorities and other parties involved “. This was announced by Tim in a note at the end of today’s Board of Directors. Pietro Labriola is not in possession of Tim shares. Labriola expressed his heartfelt thanks to the Board of Directors for the trust shown and assured the utmost commitment in accompanying Tim in his development path.
The new top management structure of the company immediately guarantees, in the interest of all stakeholders, the full operation of the group “, Tim announced at the end of the Board of Directors. The new structure, Tim emphasizes,” also ensures in such a phase articulated a cohesive, firm and determined guide in the full exploitation of the operational capabilities of the company and of its positioning on the market, while respecting the role of all the shareholders and other stakeholders involved “.
The governance solution identified, Tim notes, “constitutes an essential step in the Ceo Succession Planning process, on which the commitment of the Board as a whole and, in particular, of the Nomination and Remuneration Committee, assisted by the advisor, continues Spencer Stuart. Commitment aimed at defining a stable and lasting medium-term executive leadership of the company, which takes into account the evolution of Tim’s overall corporate structure and the related business perimeter “.
CDA STARTS ACTIVITIES FOR EXAMINATION OF NON-BINDING INTEREST MANIFESTATION KKR
Tim’s Board of Directors has begun activities to examine Kkr’s non-binding expression of interest. This was announced by the Italian telecommunications operator. The Board of Directors “in relation to the indicative and non-binding expression of interest sent by Kohlberg Kravis Roberts & Co. (Kkr), on the last 19th, reserving the right to evaluate every strategic option in the interest of the company and the stakeholders, has established, on the proposal of the Committee for Control and Risks an ad hoc Committee made up of the chairman of the BoD and four independent directors: the Lead Independent Director and the directors Paolo Boccardelli, Marella Moretti and Ilaria Romagnoli “.
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