TIM’s Board of Directors today defined the governance structures, completing the process begun on 7 May.
More specifically, the Board of Directors has formed a new internal committee focusing on the investigation and monitoring of interactions with related parties, and consequently the specific corporate procedure has been amended. Directors Morselli (Chairman), Capaldo, Cappello and Roscini will be members of this Committee.
The members of the other Committees are as follows:
- Strategy Committee - Directors Conti, Genish, Gubitosi, de Puyfontaine, Ferrari, Sabelli
- Control and Risk Committee – Directors Giannotti (Chairman), Gubitosi, Ferrari, Moretti
- Nomination and Remuneration Committee – Directors Altavilla (Chairman), Bonomo, Sabelli, Valensise
The Board has also decided the remuneration to be assigned to the directors and committee members, achieving savings compared with the previous levels of Board remuneration.
With the Chairman of the Board classified as an independent director, the body chose not to appoint a Lead Independent Director, instead updating the Company’s Corporate Governance Principles to reflect this change.
The new versions of these Principles and the Procedure for performing transactions with related parties will be published on the Company’s website www.telecomitalia.com.
Chairman Fulvio Conti comments: “The composition of the Committees, the deliberations on corporate governance issues and the savings in the Directors’ remuneration confirm the process started by this Board towards TIM’s trasformation into a public company, focused on achieving the results disclosed to the market.”
Finally, the Board of Directors has deemed that Vivendi is no longer a party exercising direction and coordination over TIM and therefore terminated the previous direction and coordination activity.
The CEO has taken interim responsibility of the Procurement Unit & Real Estate department.
Rome, 16 May 2018