Telecom's board of directors has not been revoked, but the decision has not received full votes. In fact, 50,3% of those present at yesterday's meeting expressed themselves against the revocation proposal, while 42,3% voted in favour. 7,4% abstained.
Since the revocation was not approved, the assembly voted to replace the seats vacated by Franco Bernabè and Elio Catania on the board. The candidates were voted on one at a time: Stefania Bariatti and Angelo Tantazzi, previously candidates from Telco, and Marco Fossati and Franco Lombardi, candidates during the meeting's proceedings.
The president of Findim, who proposed the revocation of the board, has however made it known that he is not available. In any case, no one got 50% plus one of the votes. The Telecom board has not been reinstated and for now remains composed of 11 directors.
"Today we witnessed a vote that is an important symbol of change, and is a strong signal to the market that must be listened to, especially by those who lead the company", commented the president of Findim, Marco Fossati, on the sidelines of the Telecom assembly.
"We came very close" to the revocation, he added, "the expression of the Anglo-Saxon funds has been harsh and violent, as they have expressed that there is certainly a conflict of interest within this board of directors". In any case, for Fossati the message that emerges "is not of contrast, there are neither losers nor winners".
Fossati has declared at the moment that he does not have "the details to challenge the resolution of the meeting" after that in his speech, he said that there would have been other ways out of here to protect the rights of shareholders.
“The first step – explained Fossati – will now be to propose a change of statute to bring to the April assembly in order to arrive at a public company and correct and democratic representation”. Today, the company's representation system attributes 4/5 of the seats on the board to the majority list.
