TIM shareholders vote to hand CEO Gubitosi a second term
By Reuters Staff
MILAN, March 31 (Reuters) - Telecom Italia (TIM) shareholders on Wednesday voted in favour of keeping current Chief Executive Luigi Gubitosi in the job for a second three-year term, Italy’s biggest phone group said.
Gubitosi, who took the helm at TIM in 2018, will be re-appointed as a CEO at a board meeting on Thursday after shareholders attending the annual general meeting backed the slate of 10 directors submitted by TIM’s outgoing board.
Alongside Gubitosi and Chairman Salvatore Rossi, the slate included representatives of TIM’s top shareholders, France’s Vivendi and Italian state lender CDP.
CDP Chairman Giovanni Gorno Tempini is a new entry on TIM’s board as it is Renault CEO Luca de Meo. Vivendi’s representatives Arnaud de Puyfontaine and Frank Cadoret were both confirmed as board members.
Investors representing 59% of the company’s capital were registered to vote, TIM said. (Reporting by Elvira Pollina; editing by Valentina Za)