- New Board of Directors appointed at Telecom Italia to accelerate the long term development of the current strategy
Vivendi welcomes the composition of Telecom Italia’s new Board of Directors, which was approved by the company’s Annual Shareholders’ Meeting on May 4, 2017. The new team, which brings together a wide variety of recognized skills, will be a valuable asset in the development of the Italian company’s strategy and in meeting its challenges in the months and years to come.
Telecom Italia’s new Board of Directors has 15 members, ten of whom are independent within the meaning of Italian law and the Corporate Governance Code for listed companies. Three members (Arnaud de Puyfontaine, Hervé Philippe, Frédéric Crépin) represent Vivendi, Telecom Italia’s largest shareholder. Two members (Giuseppe Recchi and Flavio Cattaneo) ensure the continuity of management.
The Board of Directors held today was exclusively dedicated to the renewal of the delegation of powers needed to ensure the proper functioning of the company. The same persons are empowered with the same powers pending merger control clearance by the European Commission.
Vivendi reaffirms its long term commitment to Telecom Italia and its desire to create significant value for the telecoms operator’s customers, employees and shareholders.