Telecom Italia appoints leadership duo following Elliott Management takeover
Telecom Italia (TIM) has appointed its Chairman and Chief Executive Officer, just a few days after its boardroom future was finally sorted.
The Italian telco had been at the centre of an ownership struggle between US investment firm Elliott Management and French conglomerate Vivendi before the former attained two thirds of the seat on its board last week.
Now it has moved quickly to appoint Fulvio Conti as Chairman and Amos Genish as the returning CEO, with the new structure approved unanimously by the board on Monday.
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Conti, who has been involved at a senior level with TIM since 1998, is a veteran Italian financier who also held the top job at energy giant Enel. Genish has been in the CEO role since September last year but his extension had initially been in doubt during the heated battle between Elliott Management and Vivendi.
"I am honoured by the trust that all the Board of Directors at TIM have shown by appointing me Group Chairman," said Conti. "Today, we have confirmed our full confidence in Amos Genish and his management team that we will support in the implementation of the 2018-2020 Strategic Plan.
"My long-term commitment to TIM, along with Amos’ one and his considerable industry experience, aims at further strengthening the Group and creating value for all our stakeholders”.
Genish himself added: I would like to thank the new Board of Directors at TIM for entrusting me with the leadership of the Company as CEO. I confirm my long-term commitment to the transformation of the Group, which aims to reaffirm TIM’s position as an international best in class business.
"We are on the right track and have a great management team. The complete support of the new Board enables us to continue implementing the DigiTIM strategy, which is already bearing fruit and delivering the value TIM is capable of creating."
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