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TIM GROUP: first board meeting after the renewal of the board appointed by the Shareholders’ meeting

GIUSEPPE RECCHI Executive Chairman, ARNAUD ROY DE PUYFONTAINE Deputy Chairman, FLAVIO CATTANEO Chief Executive Officer

05/05/2017 - 02:10 PM

The Board of Directors of TIM met today for the first time since its renewal, and appointed, by a majority vote, Giuseppe Recchi as Executive Chairman, Arnaud Roy de Puyfontaine as Deputy Chairman, and Flavio Cattaneo as Chief Executive Officer of the Company.

The responsibilities and powers that the Executive Chairman and Chief Executive Officer already had were confirmed. The Deputy Chairman has only deputy powers, as set out in the Bylaws, without specific mandates.

Therefore, in addition to his responsibilities as set out by the law and by the Company Bylaws, the Executive Chairman has responsibility for:

  • the identification of the guidelines for the development of the Group, in agreement with the Chief Executive Officer, and the supervision of the development and delivery of the strategic, industrial and financial plans;
  • the supervision of the definition of organisational arrangements,  economic and financial operations and the process of defining the guidelines of the internal control and risk management system;
  • the organisation of the Legal Affairs, Institutional Communication, Public Affairs, Brand Strategy and Media and Corporate Shared Value departments, and the governance of the Fondazione TIM; the supervision of security issues and TI Sparkle;
  • representing the Company and the Group in its external relations with regulators, institutions and investors.

In addition to the legal representation of the Company, pursuant to the Bylaws, the Chief Executive Officer essentially has:

  • all the powers necessary to accomplish acts pertinent to the activity of the Company, excepting those powers reserved to the Board of Directors and those delegated to the Executive Chairman;
  • responsibility for the overall management of the Company and the Group and hence responsibility for defining, proposing to the Board of Directors and then implementing and developing strategic, industrial and financial plans, and all the organisational responsibilities to ensure the management and development of business in Italy and South America.

The Board of Directors also proceeded to ascertain that the following Directors meet the independence requirements: Camilla Antonini, Franco Bernabè, Ferruccio Borsani, Lucia Calvosa, Francesca Cornelli, Dario Frigerio, Anna Jones, Félicité Herzog, Marella Moretti, Danilo Vivarelli.

Finally,  Chief Financial Officer, Piergiorgio Peluso was confirmed as the Executive responsible for preparing the accounting documents of TIM, and General Counsel Agostino Nuzzolo was also confirmed as Secretary of the Board of Directors.

* * *

The curricula vitae of the Directors are available on the Company website, “Investors” section.

At the present time, the serving Directors own the following shares:

  • Giuseppe Recchi – 1,000,000 ordinary shares

  • Flavio Cattaneo – 1,500,000 ordinary shares

  • Dario Frigerio – 600,000 ordinary shares

  • Hervé Philippe – 12,500 ordinary shares

Milan, 5 May 2017


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