Telecom Italia boss forced to resign

Luigi Gubitosi has been replaced by TIM President Salvatore Rossi, while TIM Brazil President Pietro Labriola becomes Managing Director.

Correspondent in Rome

On Friday, all scenarios were considered at the opening of the extraordinary board of directors of Telecom Italia. After five hours of deliberation, the council took note of the resignation of AD, Luigi Gubitosi. Who has been replaced by the president of TIM, Salvatore Rossi, while the president of TIM Brazil, Pietro Labriola, for twenty years in the group, becomes the general manager. An extraordinary board, with a particularly busy agenda, which should initially focus on strategy and organization. But who in fine had both to decide the fate of its leader, and to decide on the takeover offer of 100% of the capital by the American fund KKR. Rather a “expression of interest»Non-binding revealed last Sunday, at a price of 50.5 euro cents per share, or more than 11 billion euros (and 33 billion with its debts). “A price that does not reflect the true value of the company»Vivendi replied very quickly,

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