Telecom Italia shareholders propose new chairman, CEO (Italy)

Telecom Italia’s new controlling shareholder consortium has unveiled its proposals for new management at the Italian operator. Mediobanca, which is part of the consortium including Telefonica, Assicurazioni Generali, Intesa Sanpaolo and Sintoni, has proposed Gabriele Galateri di Genola as chairman and Franco Bernabe as CEO. They would replace current chairman Pasquale Pistorio and CEO Riccardo Ruggiero. Galateri is a former Mediobanca chairman, while Bernabe was head of energy group Eni and ran Telecom Italia briefly in 1998. Bernabe currently works at the Rothschild investment bank. The appointments are subject to approval by a full board meeting.

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