arabtoday
Last Updated : GMT 14:41:31
Arab Today, arab today
Arab Today, arab today

Telecom Italia overhauls board, elects new chairman

Arab Today, arab today

Arab Today, arab today Telecom Italia overhauls board, elects new chairman

Rome - AFP

Telecom Italia investors elected a new chairman Wednesday and overhauled the company's board in a bid to bring greater transparency and efficiency to Italy's largest phone group. Giuseppe Recchi, outgoing chairman of oil group Eni, was elected as part of a restructuring of the board which saw independent directors favoured over executives from shareholder Telefonica, Italian media reports said. The revamp aims to give chief executive Marco Patuano greater flexibility in tackling the group's mammoth debts and funding investments to boost growth. The telecoms giant reported a net debt of 26.8 billion euros ($37.02 billion) at the end of last year. The change in board make-up is "the turning point which projects us towards the future," Patuano was quoted as saying in the reports. "The period of governance alchemy is over, it is time to speak business," he said, adding that "the focus will be on strategy." Investors with a combined 56-percent shareholding were present at the vote. A list of board candidates put forward by international investment management association Assogestioni won 50.28 percent of shareholders votes, securing election. There had been concern among investors over the influence on the board of Spanish group Telefonica, the group's largest shareholder and a direct rival to the Italian company in Brazil. Telefonica is part of the Telco holding company that owns 22.4 percent of Telecom Italia. Telco's list obtained 45.5 percent, securing three posts on the new board alongside Assogestioni's three seats. Shareholders will vote separately to elect the seven other directors required to complete the 13-member board.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today telecom italia overhauls board elects new chairman Arab Today, arab today telecom italia overhauls board elects new chairman

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today At Milaidhoo Island, Maldives

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today As West watches Aleppo slip away

GMT 08:15 2016 Saturday ,10 December

As West watches Aleppo slip away
Arab Today, arab today 'Rookie' Trump must fall into line

GMT 08:02 2016 Tuesday ,06 December

'Rookie' Trump must fall into line
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today The summer school raising aspirations

GMT 12:49 2016 Tuesday ,06 December

The summer school raising aspirations
Arab Today, arab today Ryan Gosling, Emma Stone immortalized

GMT 12:31 2016 Thursday ,08 December

Ryan Gosling, Emma Stone immortalized
Arab Today, arab today Australia's Rinehart, China group

GMT 10:02 2016 Friday ,09 December

Australia's Rinehart, China group
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today Kirk Douglas at 100, still in love

GMT 12:19 2016 Thursday ,08 December

Kirk Douglas at 100, still in love
Arab Today, arab today Swiss unveil stratospheric solar plane

GMT 13:47 2016 Thursday ,08 December

Swiss unveil stratospheric solar plane

GMT 10:48 2016 Tuesday ,06 December

France bets on Bollywood

GMT 10:52 2016 Tuesday ,06 December

Vanessa Redgrave makes directing

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 11:39 2016 Tuesday ,06 December

Indonesia expands protection

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:17 2016 Friday ,25 November

Ajman Tourism launches time capsule

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:08 2016 Saturday ,10 December

Samsung Galaxy A8 arrives in Saudi market

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday