An extraordinary board of directors convened for Friday 21 January will nominate Tim's new CEO. He reveals it Radiocor, according to which in the next 10 days the headhunters of Spencer Stuart appointed by the company to identify a shortlist of names will complete the selection process, putting an end to the interim started last November 26 after the resignation of the now ex CEO Luigi Gubitosi. The latter, urged by the first shareholder Vivendi, had decided to take a step back after the expression of interest forwarded by KKR.
He would be in pole position for the CEO chair Peter Labriola, current general manager of Tim and CEO of Tim Brasil, who on January 18 – a date chosen long ago – will meet the company's directors in an informal meeting to take stock of the new business plan. Shareholders are reportedly influencing his name after having given a mandate to Spencer Stuart to sound out a small list of managers, among which the name of Aldo Bisio, current CEO of Vodafone Italia, and Alberto Calcagno, CEO of Fastweb, who just yesterday relaunched the group's new development strategy.
On the other hand, a board of directors is scheduled for 26 January, which this time will meet in ordinary session, for the preliminary examination of the budget.
Yesterday, Monday 10 January, the Deputy Minister for the Economy, Laura Castelli, also spoke of Tim's future, underlining that there was "no doubt that CDP (Tim's second largest shareholder behind Vivendi with 9,86% of the capital) should proceed with the maximum speed to the appointment of Labriola or whoever it is as managing director. A company like Tim cannot remain stalled and considering that it has already been without a managing director for two months, it is correct to arrive at a decision quickly to avoid that the price of the push and pull is then paid only by Tim and his shareholders” .
In Piazza Affari, after the news spread, the Telecom Italia title gains 0,8% to 0,4531 euro after reaching an intraday high of 0,4537 euro.
