Tonight, on the eve of the board meeting, the meeting of Telecom Italia's independent directors dedicated to changes to governance will be held. The control and risk committee and the nomination and remuneration committee have also been convened, which should examine, among other points, a possible adjustment of the emoluments of CEO Marco Patuano.
The manager will have to respond to the requests of Marco Fossati's Findim and Asati to abolish the statute provision which assigns the nomination of four fifths of the board to the majority list. Vito Gamberale, a manager much listened to by Marco Fossati, took to the field proposing the public company solution.
Tomorrow's Board of Directors will also have to examine the proposal of the independents to include any future transaction in Brazil among transactions with related parties "of greater significance".
If the motion is approved, any offer on Tim Brasil, before being examined by the Board, will have to pass the scrutiny of a committee composed only of independents, with the help of an advisor.
At the opening today, the Telecom Italia share shines in Piazza Affari, registering a rise of 2,5%.
