TIM’s Board of Directors met today chaired by Fulvio Conti and –in agreement with the recommendation made by the Nomination and Remuneration Committee – deliberated to appoint Luigi Gubitosi Chief Executive Officer and General Manager, conferring him executive powers.
By a majority vote the existing new governance arrangements have been confirmed:
- the Chairman has the powers laid down by law, the Company’s Bylaws and the code of conduct;
- the CEO has all the powers necessary to carry out the Company's activities, with the exception of those reserved by law and the Bylaws to the Board of Directors;
- the Head of Security Stefano Grassi is temporarily assigned the role of Security Officer.
Luigi Gubitosi will receive a compensation corresponding to that already attributed to his predecessor, therefore in line with the Company's remuneration policy.
The curriculum vitae of Luigi Gubitosi is available on the Company's website at www.telecomitalia.com, section “About us”, subsection “Corporate Bodies”.
Following his appointment as CEO and General Manager, Luigi Gubitosi qualifies as a (non-independent) Executive Director and no longer sits on the Control and Risk Committee; as of today, Luigi Gubitosi does not own any shares in Telecom Italia S.p.A..
Rome, 18 November 2018