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Telecom Italia: Appointment of Mr. Franco Rosario Brescia as assistant to the Chairman Guido Rossi

10/03/2006 - 12:00 PM

With reference to the “news” published today by “La Repubblica” regarding a presumed re-definition of Telecom Italia’s management structure, it should be noted that the appointment of Mr. Franco Rosario Brescia as assistant to the Chairman, Guido Rossi, does not attribute to Mr. Brescia any coordination functions for structures that report directly and exclusively to the Chairman. The structures concerned are that of General Counsel (headed by Mr. Francesco Chiappetta) and that of Public and Economic Affairs and External Relations (headed by Mr. Riccardo Perissich).

Further, the management structure diagram published  by “La Repubblica” is outdated: it indicates structures which no longer exist, as well as managers who have long since left the Company.

In judging as unacceptable something which seems designed as a gratuitous attempt to destabilize a quoted company, which is also listed in the United States, the Chairman re-affirms his faith in the current management and in particular towards the Executive Deputy Chairman, Mr. Carlo Buora, and the Chief Executive Officer, Mr. Riccardo Ruggiero. 

Milan 3 October 2006