Fulvio Conti has resigned from the presidency and also from the board of directors of Telecom Italia, now Tim. After the steps required by the telephone company's governance, the board will meet again on October 21 to nominate a successor. In pole position for Tim's presidency, as reported this morning by FIRSTonline, is the current president of Assonime and former general manager of Confindustria, Innocenzo Cipolletta, although there are other candidates.
Conti explained during the board meeting, which met in the afternoon, that he "deems his mandate to be over, in light of the achieved stability in the functioning of the board and a renewed commitment to creating sustainable value for all the Company's stakeholders" .
Pending the meeting of the Appointments and Remuneration Committee to examine the candidacy of a new independent director who should join the board, between now and October 21 the functions of Chairman of Tim will be temporarily exercised by the senior director Valensise.
The choice of the new chairman is facilitated by the climate of greater serenity that has been established among Tim's three main shareholders - Vivendi, Cdp and Elliott Fund - and which, barring unforeseen events, should be brought to the presidency by a personality with great experience and by all esteemed like that of Cipolletta, always on excellent terms with CEO Luigi Gubitosi.
