Luigi Gubitosi remits the proxies. The board of directors starts examining the KKR proposal

Luigi Gubitosi remits the proxies. The board of directors starts examining the KKR proposal
Luigi Gubitosi remits the proxies. The board of directors starts examining the KKR proposal

On the evening of last Friday the board of directors of Telecom Italia TIM took note of the remission of proxies by Luigi Gubitosi and, having accepted it, resolved the revocation of his positions as CEO and general manager of the company and from the related powers. Gubitosi, who is also a shareholder in the company with approximately 4 million shares, will remain on the board of directors.

In the succession plan of the company, the board resolved to appoint as general manager Pietro Labriola, who will also retain the position of CEO of the subsidiary TIM SA

Finally, in relation to the indicative and non-binding expression of interest by KKR on November 19, 2021, the board of directors, reserving the right to evaluate every strategic option in the interest of the company, set up an ad hoc committee that will promptly initiate all the preliminary activities preparatory to the analysis of the content of the non-binding event. The activities and investigations will be conducted according to best practices in order to allow the board to fully assess the scope, content, conditions and consequences of the non-binding event.

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Luigi Gubitosi remits proxies board directors starts examining KKR proposal

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