Telecom Italia Names Luigi Gubitosi as CEO
November 19 2018 - 1:41AM
Dow Jones News
By Cristina Roca
Telecom Italia SpA (TIT.MI) has named Luigi Gubitosi as its new
chief executive, succeeding recently ousted Amos Genish.
Mr. Gubitosi joined Telecom Italia as an independent board
member in May, according to the company's website. In May 2017 he
became one of Alitalia SpA's extraordinary commissioners.
Telecom Italia announced the decision Sunday.
Mr. Genish was removed from the chief-executive role on Nov. 13.
His dismissal marked the latest blow in a monthslong battle between
Telecom Italia shareholders Elliott Management Corp. and Vivendi SA
(VIV.FR).
Mr. Genish was appointed chief executive when Vivendi, which
holds a stake of almost 24% in Telecom Italia, held sway in the
company. Earlier this year, activist investor Elliott's U.K. arm
built a minority stake in Telecom Italia and pushed for a
management and strategy overhaul.
Elliott took control of Telecom Italia's board after a shake-up
in May, dealing a blow to Vivendi. However, the board then
reiterated its support for Mr. Genish as chief executive.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
November 19, 2018 01:26 ET (06:26 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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