Telecom Italia to hold new extraordinary board meeting as pressure on CEO mounts
MILAN (Reuters) -Telecom Italia (TIM) will hold a second extraordinary board meeting in two weeks on Nov. 26, two sources familiar with the matter said on Saturday, as an internal war over the role of Chief Executive Luigi Gubitosi escalates. Gubitosi survived a boardroom showdown on Nov. 11 but after two profit warnings this year at Italy’s former phone monopoly he remains under fire, having failed to convince top investor Vivendi that he could tackle the company’s problems. The French media giant, which holds a 23.8% stake in TIM, has called into question the role of Gubitosi, pushing to replace him with TIM Brasil head Pietro Labriola, sources have previously said.
Leave a Reply