Cattaneo prepares to step down from TIM

Investors call for quick management reshuffle

(ANSA) - Rome, July 24 - Shares in Italian telecommunications company TIM rose by 2.7% in morning trading on the Milan stock exchange on Monday as the company's board of directors and nominations committee prepared to finalise the departure of CEO Flavio Cattaneo after 16 months in post.
    Investors are calling on the telecoms giant for a quick management reshuffle amid the probable appointment of current Vivendi chief convergence officer Amos Genish as general director. "The issue of governance needs to be resolved immediately," analysts at Mediobanca said. "The fact that the uncertainty surrounding the group's management is about to be clarified is positive, even though some of the reasons for the break with Cattaneo need to be cleared up," added Intermonte. There has been controversy over Cattaneo's golden handshake, which is rumoured to be in the region of 30 million euros.
   

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