Telecom Italia S.p.A.: New Telecom Italia Board of Directors meets
13 April 2011 - 9:05PM
Italian Regulatory (Text)
PRESS RELEASE
NEW BOARD OF DIRECTORS OF TELECOM ITALIA MEETS FRANCO BERNAB�
APPOINTED CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER; MARCO
PATUANO APPOINTED MANAGING DIRECTOR AND CHIEF OPERATING OFFICER
INTERNAL COMMITTEES REAPPOINTED
Milan, 13 April 2011 The Board of Directors of Telecom Italia
elected yesterday by the Shareholders' Meeting, met today, 13
April, and appointed Franco Bernab� Chairman of the Board and
Chief Executive Officer, Aldo Minucci Deputy Chairman and Marco
Patuano Managing Director and Chief Operating Officer of the
Company. The Chairman of the Board shall have the following duties:
- representation of the Company as per the Bylaws and powers to
exercise, by separate signature, all duties pertinent to company
business; - full responsibility for the governance of the Group,
including oversight of the activity of the COO and definition of
the strategic directions of the organisation; - responsibility for
extraordinary operations and financial transactions to be submitted
to the Board of Directors. The Deputy Chairman shall have the
following duties: - representation of the Company as per the
Bylaws, in the absence or unavailability of the Chairman; -
oversight of the internal control system. The Chief Operating
Officer shall be responsible for: - representation of the Company
as per the Bylaws and powers to exercise, by separate signature,
all duties pertinent to company business; - overall control of
domestic operations.
Director Luigi Zingales has been appointed Lead Independent
Director.
The Board of Directors also reappointed the internal committees,
electing respectively:
to the Executive Committee: the Executive Chairman and CEO, the
Managing Director and COO, the Vice Chairman and Directors
Ferdinando Beccalli Falco, Elio Cosimo Catania, Julio Linares
Lopez, Renato Pagliaro, Mauro Sentinelli; to the Internal Control
and Corporate Governance Committee: Directors Elio Cosimo Catania,
Jean Paul Fitoussi, Francesco Profumo, Mauro Sentinelli, Luigi
Zingales; to the Committee for Appointments and Remuneration:
Directors Elio Cosimo Catania, Jean Paul Fitoussi, Gabriele
Galateri di Genola, Francesco Profumo. In addition to the duties of
the Internal Committees regulated by the Company's Corporate
Governance Code, the following responsibilities were attributed: to
the Executive Committee the task of producing a preliminary opinion
on the operations submitted for the approval of the Board of
Directors pursuant to point 3.2 of the Self Regulatory Code, i.e.
on operations which by their nature, strategic importance, size or
undertakings entailed, might have a significant impact on the
business of the Company and the Group; to the Internal Control and
Corporate Governance Committee responsibility for related party
transactions as per the specific Procedure and the task of
overseeing matters of corporate social responsibility; to the
Committee for Appointments and Remuneration responsibility for
management succession planning and replacement tables and the
selection/designation of the external member of the Supervisory
Body, as well as the task of furnishing recommendations concerning
the criteria for apportioning the total compensation decided by the
Shareholders' Meeting for the full Board of Directors.
The Company Self Regulatory Code will therefore be modified at a
future meeting.
***
The Board of Directors verified the requisites of its 15 members, 6
of whom qualify as independent under the TUF and the Code of
Conduct of the Italian Stock Exchange S.p.A.: Ferdinando Beccalli
Falco, Elio Cosimo Catania, Jean Paul Fitoussi, Francesco Profumo,
Mauro Sentinelli and Luigi Zingales. Finally the Board of Directors
amended the calendar of meetings to approve the financial reports
in the year 2011 (already communicated on 30 September 2011) as
follows: 5 May: Board of Directors' meeting to approve the interim
report on operations at 31 March 2011 (confirmed); 4 August: Board
of Directors' meeting to approve the first-half 2011 financial
report (confirmed); 10 November: Board of Directors' meeting to
approve the interim report on operations at 30 September 2011
(changed: the meeting had previously been scheduled for 3 November
2011).
Telecom Italia Press Office
+39 06 3688 2610 http://www.telecomitalia.com/media
Telecom Italia Investor Relations
+39 06 3688 3113
http://www.telecomitalia.com/investorrelations
Telecom Italia (BIT:TITR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Telecom Italia (BIT:TITR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024