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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