Yesterday Telecom Italia (TIM) announced Director Luigi Gubitosi resigned as CEO and General Manager of one of the country’s target MNOs. Director Paola Sapienza will take on the role of Lead Independent Director. The company’s Board of Directors met under the chairmanship of Salvatore Rossi, to acknowledge Gubitosi’s resignation, and expressed its thanks for his work. Reuters reported he told the board he would resign if his exit would speed the process of evaluating and deciding on buyout investment firm KKR’s recent $12 billion takeover bid.
Rossi was assigned responsibilities and powers relating to Partnership & Alliances, Institutional Communications, Sustainability Projects & Sponsorship, Public Affairs, as well as responsibility for managing TIM’s assets and activities of strategic importance for the national defense and security system.
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