Telecom Italia: Vivendi identifies new candidates for board
(CercleFinance.com) - Vivendi, which is trying to retain control of Telecom Italia, has proposed ten candidates, including five independent directors, to renew the company's board.
The list of ten candidates is led by Amos Genish, the telecoms operator's current chief executive officer, who has full support from Vivendi for the execution of the 2018-2020 industrial plan.
Telecom Italia's former chairman, Arnaud de Puyfontaine, has been offered a place to serve as non-executive chairman, Vivendi said.
"We are confident that all shareholders will support the new board, the management and the strategy," commented Arnaud de Puyfontaine, who is also Vivendi's CEO.
Vivendi - which currently owns 24.9% of TIM - has, for a few weeks, been involved in a proxy battle versus activist investor Elliott, which holds 5.75% of the group.
The new board's composition will be determined on 4 May, after Telecom Italia's shareholders vote at an ordinary shareholder meeting.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The list of ten candidates is led by Amos Genish, the telecoms operator's current chief executive officer, who has full support from Vivendi for the execution of the 2018-2020 industrial plan.
Telecom Italia's former chairman, Arnaud de Puyfontaine, has been offered a place to serve as non-executive chairman, Vivendi said.
"We are confident that all shareholders will support the new board, the management and the strategy," commented Arnaud de Puyfontaine, who is also Vivendi's CEO.
Vivendi - which currently owns 24.9% of TIM - has, for a few weeks, been involved in a proxy battle versus activist investor Elliott, which holds 5.75% of the group.
The new board's composition will be determined on 4 May, after Telecom Italia's shareholders vote at an ordinary shareholder meeting.
Copyright (c) 2018 CercleFinance.com. All rights reserved.