Board of Directors' Members

Born in Rome on June 28, 1973. He graduated with honors in Law in November 1995 from the University of Rome "La Sapienza", earned a PhD in Civil Law from the University of Florence, and received a Doctorate in Canon Law from the Pontifical Lateran University.

He obtained the National Scientific Qualification as a Level II University Professor (Private Law) and currently teaches at the Pontifical Lateran University, after having taught at the University of Udine from 2001 to 2015.

A former lawyer (Rome, 1999) and an Air Force Officer (Air Force General Staff, 1999-2000), he was appointed a Notary in January 2001, focusing on commercial and corporate law.

In 2012, he was a member of the Committee for the Reform of Securities established at the Ministry of Justice, and since 2018, he has been a member, among others, of the editorial board of the journal "Il Diritto dell'informazione e dell'informatica".

A member of the ASCL (American Society of Comparative Law), the Society of Legal Scholars (UK), and the Société de législation comparée (Paris), from 2013 to 2015 he was a member of the Legal Affairs Commission of Caritas Internationalis.

Author of four monographs and numerous essays on civil, commercial, and comparative law, based on his previous experience and his professional career, among other things, he has developed expertise in the TIM Group's business sector, particularly in the legal implications of information and telecommunications technologies, and in corporate law.

January 2026

Born in Milan on December 22, 1970, Paola Camagni graduated in Business Administration in 1994 from the Luigi Bocconi University in Milan where the following year she also obtained a master’s degree in international Tax Law.

She is a founding partner and managing partner of the tax firm "Camagni Società tra Professionisti", based in Milan, a company specializing in corporate taxation and international tax law. She founded this firm in 2013 after a professional career as a tax expert – chartered accountant within the tax firms belonging to the networks of auditing firms ("Big Four") where she held the role of Partner.

She has been a member of the Register of Chartered Accountants of Milan since 1996 and of the Register of Auditors (pursuant to Ministerial Decree 15/10/1999). In 2016 she was appointed by the President of the Council of Ministers as "Expert for fiscal and economic policies" (Prime Ministerial Decree of 5 May 2016)ss an adjunct professor at the L. Bocconi University of Milan for the Master of "International Tax Law" until the academic year 2017/2018 and the "Master’s in Real estate" held at the SDA Bocconi in Milan (in the years 2011/12 and 2012/13).

She has been an Independent Director of TIM S.p.A. since 2021; in her previous term of office on the Board (2021-2023) she was also a member of the Nomination and Remuneration Committee and of the Sustainability Committee.

She currently holds the role of Independent Director and member of the Management Control Committee in UniCredit S.p.A..

In the past she has been an independent Director (e.g. CellularLine S.p.A. 2017 - 2020; FSI S.g.r. 2022 - 2025) and Standing Auditor (including ENI S.p.A., from 2014 to 2020) of listed or large companies.

Based on previous experience, among others, she has gained expertise in the TIM Group's business sector, in the field of telecommunications services.

January 2026

Born in Rome in 1968, in November 1993 he graduated in law from the University of Rome "La Sapienza", with a grade of 110/110 cum laude.

Since January 1998 he has been a member of the Bar Association of the Rome Bar Association and since 26 June 2009 he has been a full professor, holder of the chair of Private Law at the Department of Economics and Management of the University of Sassari.

Since June 2009 he has been Full Professor of Private Law

From 14 October 2009 to 13 October 2015 he was appointed by the Bank of Italy as a member of the College of Rome of the Decision-Making Body of the Banking and Financial Arbitrator (ABF), an out-of-court dispute resolution system in the field of banking and financial transactions and services established pursuant to art. 128-bis of the Consolidated Banking Act.

From 23 November 2016 to May 2018, he was appointed by Consob as a member of the Arbitrator for Financial Disputes (ACF).

Since June 2019 he has been an independent director of Garofalo HC S.p.A.; from April 2018 to April 2021 independent director of Banca Sistema S.p.A.; from May 2014 to April 2021 independent director of Saipem S.p.A.

Since April 2021 independent director of TIM S.p.A.: He was Chairman of the Control and Risk Committee and member of the Sustainability Committee until April 2024. Since April 2024 he has been Chairman of the Control and Risk Committee and a member of the Related Parties Committee.

From May 2023 to May 2024 he held the position of Chairman of the Supervisory Board of Westim S.p.A.

Since April 2024 he has been an independent director of Reply S.p.A., a member of the Control and Risk Committee and the Related Parties Committee.

Based on previous experience and his professional career, among others, he has gained skills in the TIM Group's business sector, in particular in the field of communication and telecommunications services, and in the field of IT security.

January 2026

Married and with two children, Paola Giannotti was born on 13/7/1962 and graduated in political Economics with honors from Bocconi University in Milan. She specialized in finance at Universität zu Köln (Cologne, Germany) and New York University.

She is a Director, Chair of the Nominations and Remuneration Committee and a member of the Control and Risk Committee of TIM S.p.A..

Appointed Independent Director and Chair of the Risk and Sustainability Committee of Cassa Centrale Banca – Credito Italiano Cooperativo S.p.A. from June 2025 for a three-year term.

Independent member of the Board of Directors, Vice-Chair of the Nomination Committee, Member of the Audit, Risk and Remuneration Committees of Piraeus Financial Holdings S.A. and Piraeus Bank from 2024.

She has more than 30 years of international experience in the financial sector in the Corporate and Investment Banking area, such as in New York, London, Milan, Rome, Frankfurt and Paris where she has held various roles in world-leading institutions such as Morgan Stanley, Citigroup, Dresdner Bank, and BNP Paribas.

She began working as a financial analyst at Montedison S.p.A. (1986-1987) and then in Sviluppo Finanziaria S.p.A. Milan (1988-1989) and followed, as a business analyst, at the strategic consulting firm the Mac Group (1987-1988) in Rome.

From 1989 to 1998 she worked at Morgan Stanley, first in London as a business finance analyst and then as a business manager in Portugal. For Morgan Stanley, she worked in the equity capital markets sector in New York and then in Milan as Executive Director for the development of Italian customers and head of the Financial Institutions Department.

From 1998 to 2003 she was in London as Managing Director responsible for the Investment Banking activities in Italy first for Citigroup then for Dresdner Kleinwort Wasserstein where he was a member of the European Managing Director Committee and the European Council of Country Heads and a member of the Board of Directors of Dresdner Kleinwort Wasserstein SGR.

From 2003 to 2013 she was at BNP Paribas in Milan as Managing Director responsible for the management and development of the strategic customer portfolio (Enel, ENI, Terna, Poste, Ferrovie, Leonardo, Telecom Italia, MEF) and the Energy, Gas and Oil sectors. She was also a member of the European Committee of Senior Bankers and the Italian Executive Committee.

She later served as Director of Ansaldo STS S.p.A., UBI Banca S.p.A., FINECOBANK S.p.A., TERNA S.p.A., TIM S.p.A., ICF group S.p.A., EPS Equita PEP SPAC S.p.A., EPS Equita PEP SPAC2 S.p.A., Illimity SGR S.p.A. for TERNA, UBI Banca; she has also served as Chairman of the Control and Risk Committee of TIM S.p.A..

In 2002 she was awarded the Bellisario Foundation Award as Manager of the Year. From 2000 to 2012 she was a member of the Council for Relations between Italy and the United States, under the Honorary Presidency of David Rockefeller. In 2019, Forbes magazine named her one of the 100 women leaders in Italy.

In addition, based on previous experience and her own professional career, among others, she has gained expertise with respect to the TIM Group's business sector, particularly in the area of telecommunication services.

She speaks Italian, English and French. She has good knowledge of Spanish and basic knowledge of German and Portuguese.

January 2026

He graduated in Economics and Commerce from the Luigi Bocconi University of Milan in 1987.

He began his career at JP Morgan in 1987 in the Global Markets sector, holding various management positions in Milan and London, with responsibilities in Italy and EMEA.

He teaches at the MBA Program of the SDA Bocconi School of Management and at the L. Bocconi University of Milan, as an adjunct professor. He has also been a lecturer at the LlUC University of Castellanza (Varese) and at the Ca' Foscari University of Venice, where he is still a subject expert in the Department of Economics.

Previously, he was Chairman of Fondazione Fiera Milano and a member of the Board of Directors of LUISS University (July 2016-July 2019). He was on the Board of Directors of Intesa San Paolo S.p.A. and Willis Towers Watson S.p.A. (April 2016-November 2019), and also on the Board of Directors of FIRC - AIRC, the Italian Foundation and Association for Cancer Research (May 2016-April 2020).

He has held the role of Industry Advisor for Italy for the Permira Private Equity Fund and Senior Advisor of Partners S.p.A..

Between 2001 and 2007, he held various positions within the Intesa San Paolo Group, in particular, from 2001 to 2005, the position of Head of Investment Banking and Structured Finance and Chief Executive Officer of Banca Caboto - now Banca IMI) and, from 2006 to 2007, Head of Finance and Treasury of the Group.

During his professional career, he has also been General Manager and Member of the Board of Directors of the Mittel Group, Vice Chairman of Sorin S.p.A., Chairman of Hopa S.p.A. and member of the Management Board of A2A S.p.A..

From May 2010 to July 2015, he was Chief Executive Officer of Cassa Depositi e Prestiti S.p.A. and CDP Reti S.p.A. (December 2014-July 2015). He was also Chairman of Fondo Strategico Italiano S.p.A., subsequently named CDP Equity S.p.A. (August 2011-July 2015 and April 2020-October 2025).

Over the years he has held the position of Chairman of the "Technical Commission for Finance" of ABl-Italian Banking Association and Director of Borsa Italiana S.p.A., MTS- European Bond Exchange, EuroMTS, ISDAInternational Swaps and Derivatives Association and AlFI-Italian Association of Private Equity and Venture Capital.

He has been Chairman of the Board of Directors of Cassa Depositi e Prestiti S.p.A. since 24 October 2019, Chairman of CDP Reti S.p.A. since 28 November 2019 and Chairman of the CDP Foundation since 11 November 2021.

He chairs the Board of Directors of F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A. and is Vice Chairman of the Board of Directors of Avio S.p.A., both listed on the Star segment of the Italian Stock Exchange.

In April 2020 he was appointed member of the Committee of Experts on Economic and Social Matters (so-called "Expert Committee"). Colao Committee established by Prime Ministerial Decree of 10 April 2020) at the Presidency of the Council of Ministers. The Committee, convened in order to develop the measures and initiatives necessary to deal with the COVID-19 epidemiological emergency, has drawn up the report "Initiatives for the relaunch "Italy 2020-2022".

He is a member of the Scientific Committee of the Aristide Merloni Foundation, of the Board of Assonime, of the General Council of AIFI (Italian Association of Private Equity and Venture Capital), member of the General Council of ISPI (Institute for International Political Studies) and of the Trilateral Commission.

On 31 March 2021 he joined the Board of Directors of TIM S.p.A.

On 21 April 2021 he was awarded the honor of Grand Officer of the Order of Merit of the Italian Republic.

On 30 May 2022 he was awarded the honor of Cavaliere del Lavoro.

On 21 November 2023 it was awarded the Wall Prize, an award given to those who do business by testifying to the value of knowledge, for the centrality of education as a commitment to oneself and society.

Since December 2024 he has been a member of the Corporate Governance Committee made up of business associations (ABI, ANIA, Assonime, Confindustria), professional investors (Assogestioni) and Borsa Italiana.

On 15 May 2025 he joined the Board of Directors of Società per Azioni Villa d'Este and since 22 May 2025 he has been a member of the Board of Directors of Fontana Finanziaria S.p.A..

January 2026

She has more than thirty years of experience in finance, banking and payments, network and telecommunications industries working and living for over twenty years between New York, London and Brussels. Today he teaches "Regulation of digital innovation of payments and finance" at the Politecnico di Milano as an adjunct professor. She is a member of the Board of Directors of TIM SpA and a member of the Nomination and Remuneration Committee and the Sustainability Committee. He also sits on the Advisory Board of Fondazione Bruno Kessler.

Innovation and digitalisation are the key elements of her long professional career, which led her from 2019 to 2025 as Deputy Director General of the Bank of Italy, with responsibility for banking and insurance supervision, and innovation. In this capacity, she was the Italian representative on the Supervisory Board of the European Central Bank, as supervisor and supervisor of the Eurosystem's systemic banks, at a time when technology and climate change required banks to make important changes in business models and in the identification and measurement of risks.

At the Bank of Italy, she has followed issues relating to security against cyber attacks and data protection, as chairman of the Security Committee, and has managed the Fintech Committee since its inception, with the aim of disseminating greater knowledge of issues related to innovation in the context of the central bank. In this sense, it has fostered the creation of the Bank of Italy's Innovation Hub in Milan, which follows the most innovative fintechs with a personalized coaching program.

Earlier in her career, he worked as a lawyer in New York at Winthrop, Stimson, Putnam & Roberts, specializing in banking M&A and followed telecommunications issues during a period of significant deregulation of the sector. Subsequently, in Brussels she dealt with the regulation of financial services, the liberalization of postal services and telecommunications, later working for Olivetti in the period of change in the Group's activities towards telecommunications. In this role, she followed Omnitel Pronto Italia in the tender for the second mobile phone operator in Italy, and Infostrada for the aspects related to competition in the field of fixed network services.

In the following years, she worked at Intesa Sanpaolo, head of the Brussels office, dealing with banking and financial regulation. Back in Italy, she took on the role of Country Manager of Barclays, managing the restructuring of the bank in Italy and the sale of retail branches.

She has been a member of the boards of directors of Monte Titoli SpA, A2A (as Vice President) and ATM, Azienda Trasporti Milanese.

Alongside the more strictly professional activities,she has always promoted issues related to diversity and inclusion and for this commitment she has received various awards and mentions.  She was one of the founders of Valore D, the association of companies that promotes women in top positions and took over the presidency between 2010 and 2013. She was also awarded the Bellisario Prize.

In 2021 she was awarded the Honor of Knight of Merit of the Italian Republic.

She is also a member of the board of directors at the Bambino Gesù Children's Hospital and is President of the Friends of the Poldi Pezzoli Museum Association in Milan.

Since September 2025 she has held the position of independent director on the Board of Directors of the listed company KALEON S.p.A.

She graduated in law with honors from the Faculty of Law of the University of Genoa, a Masters in Corporate Law from New York University Law School and followed an Executive Program at Stanford University.

Born in Genoa, she is very attached to her land and the sea. She has two children, Samuele and Margherita, practices sports and loves music and art. 

January 2026

Stefano Siragusa is the co-founder and Managing Director of Rari Nantes, an alternative investment manager delivering superior value in idiosyncratic opportunities which other investors are unable or unwilling to tackle. He is also President and founder of the investment platform Xperta Partners and founder of the venture capital AIXCEEDS.

Stefano’s international managerial profile has allowed him to hold a series of leadership positions in multinational companies in different industries.

He started in 2000 as Product Manager at Siemens AG in the Industrial Automation division in Italy and Germany, dealing with automation and process innovation in electrical and telco network operations.

In 2002, after his MBA, he began his career in The Boston Consulting Group -BCG, a global management-consulting firm. In BCG, he defined value-creation strategies and followed up their subsequent operational implementation for leading Aerospace & Defense, Transportation and Steel players in Europe, Americas, Asia Pacific and particularly in North America where he transferred in 2005. Once back to Italy, in 2011 he was elected Partner & Managing Director of BCG and was appointed as leader of BCG’s industrial goods division for Italy, Greece and Turkey. In 2012 he was also requested to coordinate BCG Aerospace & Defense division in Europe and Middle East. In 2013 he was elected member of BCG’s Global Operations Leadership Team. He moved to New York to be entrusted also with the responsibility of defining BCG’s content agenda and commercial strategy for Lean, Procurement and Supply Chain and Digital transformation topics.  

In 2014 he returned to Italy from the United States to be appointed CEO and General Manager of Hitachi Rail STS formerly Ansaldo STS, a leading multinational in the sector of high-level engineering of transport systems listed in Milan (STS.MI) with headquarters in Genoa. He successfully manages the relaunch: the stock market capitalization doubles, exceeding €2 billion, orders grow by 160%, cash by 90%, profits by 80% and productivity by 60%.

In 2015, at the request of shareholder Finmeccanica, he guaranteed the sale of Ansaldo STS to the Hitachi Group and in 2016, after the start of the delisting process, he left the Hitachi group to become Senior Partner and Director of Bain & Company, a multinational leader in consultancy management strategy and founded the Special Situation practice focused on the restructuring of non-performing companies.

In March 2018 he joined the TIM group and became Deputy of the General Manager in 2021. In December 2022 he left the TIM group due to disagreements on the company strategy.

Stefano has held and holds roles as Chairman and member of the Board of Director of both listed and unlisted companies in the infrastructure, telecommunications and transport sector including Sparkle, Inwit, Persidera, ENAV, Noovle, Saipem, Mermec, Marangoni, Metro 5 Milan.

Stefano holds academic teaching and Advisor board roles at leading Italian universities including LUISS and Lumsa.

Stefano, born in 1976, graduated from the Polytechnic of Milan summa cum laude in Electrical Engineering. He completed his professional training by obtaining summa cum laude an MBA from MIP and then a master from Harvard Business School-HBS.

In addition, based on previous experience and his own professional career, among others, he has gained expertise with respect to the TIM Group's business sector, particularly in the area of telecommunication services.

Stefano is devoted husband and a loving father of four kids Sergio, Sofia, Sara and Silvio.

January 2026

Born in Caserta on 12 April 1968, he graduated in Economics and Business from the University of Bergamo (cum laude), in Law from the University of Milan and in Economics and Financial Security Sciences from the Tor Vergata University of Rome (with honours).

He obtained a post-graduate Master's degree in Corporate Taxation at the Tax Police School of the Guardia di Finanza, in collaboration with the Bocconi University of Milan (October 2001/July 2003). He is qualified to practice as a lawyer and is a member of the Rome Bar Association.

In January 2017, he joined TIM as General Counsel and Head of Legal Affairs. From December 2017 to March 2018, he was also entrusted, ad interim, with the role of Head of Human Resources and Organization. Since March 2018, he has served as General Counsel and Head of the Legal & Tax Function; since October 2024, he has led the Legal, Regulatory & Tax and, as of September 2025, he also oversees European Affairs.

Since April 2021 he has also held the role of Group DPO. He is also Secretary of the Board of Directors of TIM S.p.A. and Chairman of the Board of Directors of Noovle S.p.A. SB, a TIM Group company operating in the cloud sector. Since July 2024 he has been a Member of the Arbitration and ADR Commission of ICC Italy and International Delegate of the ICC Global Commission on Arbitration and ADR. Since 27 January 2025 he has held the position of Director of the National Strategic Hub (PSN).

From July 2016 to January 2017, he held the positions of General Counsel, Chief Operating Officer and Secretary of the Board of Directors at Italmobiliare S.p.A. From May 2006 he worked for 10 years in the Italcementi Group, initially as Head of Tax Affairs, adding further responsibilities up to the role of Group General Counsel, Director of Legal, Tax and Compliance Affairs.

From July 1986 to May 2006, he served in the Guardia di Finanza, where he started as a cadet in the Academy (1986-90). During his career he has been in charge of managing and supervising the daily and inspection activities for the purpose of combating tax and financial crime as well as the training of military cadets and other personnel of the Academy, assigned to national and international departments and operations. In his last assignment he served as lieutenant colonel, head of the Analysis and Studies sector within the General Command.

He held the position of Adjunct Professor of International Taxation at the University of Bologna (School of Economics, Management and Statistics) for the academic years 2013/14, 2014/15 and 2015/16. He has held the position of Adjunct Professor in the Advanced Course of International Taxation at the State University of Roma Tre starting from the academic years 2010/11, 2017/18, 2018/19 and 2019/20. He has also participated in seminars and conferences organized by leading companies in the sector (Paradigma, Business International) in tax matters, criminal liability of legal persons and corporate law.

He has collaborated with periodical journals on taxation and is the author of several publications, including: "The new Corporate Income Tax", 2004, Maggioli; "The new tax regime of transactions with tax havens", 2004, Maggioli; "Computer crimes", 2004, Maggioli; the "Code of Tax Inspections and Audits", 2005, La Tribuna; "Guide to anti-money laundering", 2006, Il Sole 24 Ore; the "Code of the tax process", 2007, La Tribuna; "The Protection of Members", 2008, Giappichelli; "Tax Governance Handbook  ", IPSOA, 2011; Transfer pricing manual", IPSOA, ed. 2009, 2012 and 2015; " Manual of International Taxation", IPSOA, ed. 2010, 2012 and 2014; "Orders abroad: tax discipline and contractual profiles", IPSOA, 2015.

In 2025 he participated in the publication of the volume "Digital Platforms-From Technical Foundations to Legal and Economic Implications.e-Agorà", Springer publishing house, with the contribution entitled "Data processing security and personal data breach notification system", in the field of law and digital technologies.

January 2026