The Tim's assembly gave few surprises: Peter Labriola remains in command, while Alberta Figari took over as president after Salvatore Rossi's exit. L'Vivendi abstention, the main shareholder with almost 24% of the capital, together with the support of CDP and large funds, paved the way for the success of the outgoing board's list. But there was a sore point: participation was rather low, with only 50,77% of the capital present.
From the beginning of the day in Business Square, title it celebrated stability, recording a robust increase (over 5%), and then stabilizing around +3,66% (0,23 euros).
Tim: here are all the names of the new Board of Directors
Il new board of directors, for the three-year period 2024-2026, is made up of 9 members and has also appointed the new board of auditors. The majority list, obtaining approximately 48,97% of the votes, proposed 6 members, with Alberta Figari as president and Peter Labriola as CEO, who engineered the sale of the network. Other members include Giovanni Gorno Tempini, Paola Camagni, Federico Iron Luzzi e Domitilla Benign.
The Merlyn and Bluebell fund lists contributed 2,38% and 1,01% of votes, bringing new faces to the board. Umberto Paulucci e Stefano Siragusa they join the board on behalf of Alessandro Barnaba's fund, while Giuseppe Bivona's fund places on the board of directors Paola Giannotti From Ponti as a presidential candidate.
Vivendi wins the board of auditors
Il supervisory board is mainly composed of list presented by Vivendi, which obtained 75,39% of the votes, while a group of fund managers and SICAVs obtained over 17,63% of the votes.
The candidate indicated first among the standing auditors on the minority list, Francesco Fallacara, was appointed president. The Board of Statutory Auditors is therefore composed as follows:
- Actual mayors: Francesco Fallacara (president), Anna Doro, Massimo Gambini, Francesco Schiavone Clothes, Mara Vanzetta.
- Alternate auditors: Massimiliano Of Maria, Laura Fiordelisi, Paolo Prandi, Carlotta Venetians.
The fees
As regards the compensation, the assembly established a maximum compensation of 1.300.000 euros gross per year for the entire body, excluding directors with special assignments. The emoluments for the board of auditors have been set at 13 thousand euros gross per year for the president and 95 thousand euros gross per year for each effective member.
Tim, ok to the 2023 budget but no remuneration and stock option changes
The assembly approved the balance as of December 31, 2023, which recorded a net loss of 995 million euros, covered using the share premium reserve and withdrawals from the legal reserve. However, were not approved the policy said remuneration, compensation paid and changes al 2022-2024 stock option plan proposed by the outgoing council. Furthermore, given the decision to cover the 2023 loss using reserves partly subject to tax suspension, the meeting rejected the proposal for a definitive reduction of the corresponding equity items, excluding their subsequent replenishment.
Labriola: “The objective is to return to remunerating shareholders”
“We are in fact convinced of the need to equip ourselves with a more solid financial structure and industrial strategic options with a leaner structure focused on business areas – he declared labriola at the end of the meeting –. Over the next three years we will work to ensure lasting growth of the group in the interest of all stakeholders and with the aim of enhancing its strengths".
Labriola then expressed the hope of being able to return to remunerating shareholders during the course of the plan, recognizing the trust conferred on them by today's meeting. Finally, he underlines the importance of collaboration between institutions, shareholders, employees, unions and management to ensure "the best possible future for a strategic company like ours".
