Telecom Italia CEO Marco Patuano to Resign

By Manuela Mesco

MILAN--Telecom Italia Chief Executive Marco Patuano is set to resign, a person familiar with the matter said Saturday.

The telecom operator's chairman, Giuseppe Recchi, will take over his role on an interim basis, the person added. The formal resignation is expected next week.

According to the person, Mr. Patuano, 51 years old, has had clashes with the company's board over the past year about some of his latest strategic decisions. He has been with the company for 25 years and has been chief executive since November 2013.

Telecom Italia's largest shareholder, French media company Vivendi, also disagreed with him, further aggravating the tensions.

Vivendi, which holds nearly 25% of Telecom Italia, gained four seats in Telecom Italia's board last December and soon expressed intentions to have a say in the company's strategic direction.

In particular, disagreements with Mr. Patuano were expressed over the cost-cutting measures that Telecom Italia put in place recently. According to Vivendi's representatives, such measures weren't sufficient, the person added.

Write to Manuela Mesco at manuela.mesco@wsj.com

(END) Dow Jones Newswires

March 19, 2016 09:30 ET (13:30 GMT)

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