Telecom Italia Reaches Agreement With CEO on Resignation
March 22 2016 - 5:23AM
Dow Jones News
By Deborah Ball
MILAN--Telecom Italia SpA (TIA) reached an agreement with Chief
Executive Marco Patuano on his resignation, according to a
statement released Tuesday.
Mr. Patuano tendered his resignation on Monday, but it only
became effective with the formal approval of the board. Mr.
Patuano's resignation is effective Tuesday, according to the
statement.
Mr. Patuano will receive a total of 6 million euros ($6.57
million) in compensation, including severance payments.
The board appointed Chairman Giuseppe Recchi as interim chief
executive until a permanent CEO is appointed.
Write to Deborah Ball at deborah.ball@wsj.com
(END) Dow Jones Newswires
March 22, 2016 05:08 ET (09:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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