Telecom Italia Names Luigi Gubitosi As New CEO
Mohammad Ali (@ChaudhryMAli88) Published November 19, 2018 | 04:15 AM
Milan, (APP - UrduPoint / Pakistan Point News - 19th Nov, 2018 ) :Luigi Gubitosi has been named the new chief executive officer of Telecom Italia, the company said Sunday, after former chief executive Amos Genish was ousted by the board.
Gubitosi, 57, has been administering a plan to turn around the ailing Italian flag carrier Alitalia, but also has previous experience as head of Wind Communications, a Telecom Italia rival, and the public television channel Rai.
He was presented as an "independent" candidate by the US investment fund Elliott, which was able to take control of the telecom operator's board during a shareholder's meeting on May 4, even though it owns only 8.8 percent of its shares.
The French group Vivendi is the leading shareholder in Telecom Italia, with a 24-percent stake.
Genish, who is considered close to Vivendi boss Vincent Bollore, was ousted on Tuesday by board members placed by Elliott, while he was on a trip to Asia.
Recent Stories
Muhammad Rizwan, Mohammad Irfan Khan ruled out of T20I series against New Zealan ..
PNCA hosts artist talk, workshop on paper cutting
Task Force on cards for operation against illegal housing schemes: DG RDA
Flags, panaflexes removed from roads, streets for beautification of city: Mayor ..
Emergent measures under way to control effects of climate change: governor
Muhammad Suhail appointed member search committee
KP Governor inaugurates blossom fiesta, funfair at Khyber Girls Medical College
Minister for Law and Justice Azam Nazeer Tarar urges sweeping operation against ..
KPRTS serves show cause notices to CCPO, DC
Officials of NDMA, PDMA briefs Engr Amir Muqam about recent rains, landslide imp ..
Bahawalnagar boosts wheat procurement: 22 centers open for business
DWE providing training to 0.3 mln workers in twin cities
More Stories From World
-
Iran president visits Sri Lanka, inaugurates power, irrigation project
16 minutes ago -
Italy fines Amazon over 'recurring' purchase option
32 minutes ago -
Top France court confirms ex-PM's conviction in fake jobs scandal
32 minutes ago -
UBS chairman decries tighter capital rules
35 minutes ago -
Israel says forces carrying out 'offensive action' in south Lebanon
32 minutes ago -
Spain PM under pressure as wife faces graft probe
1 hour ago
-
U.S. Secretary of State Blinken arrives in Shanghai
1 hour ago -
N. Macedonia starts elections that could decide stalled EU talks
2 hours ago -
Haaland ruled out of Man City's crucial trip to Brighton
2 hours ago -
Four dead as floods wreak havoc in Kenyan capital
2 hours ago -
Thousands in heatwave-hit Bangladesh pray for rain
2 hours ago -
EU urges probe into reported mass graves at Gaza hospitals
2 hours ago