Meeting of Telecom Italia Media’s Board of Directors: evolution of the corporate reorganisation process analysed

06/28/2012 - 08:30 PM

- + Text size
Print

Telecom Italia Media’s Board of Directors met today, chaired by Severino Salvemini, and examined the evolution of the Group’s organizational and corporate transformation process, and determined some reorganizations.

With a view to guaranteeing a better control of Group activities management and rationalization,  Giovanni Stella tendered his resignation from the positions of Executive Vice Chairman and Managing Director of the Group, though retaining his position as Director and offered to focus in particular on the television business management also in order to better valorise this asset.

As a result of Giovanni Stella decision, the powers structure was reviewed and the Board of Directors granted:

·         Chairman Severino Salvemini the powers associated with strategic management and overall governance of the TI Media Group, as well as the management of extraordinary transactions and the definition  - in execution of the guidelines set by the Board of Directors - of the internal control system;  

·         Director Giovanni Stella the powers for operational management of the Group’s television business;

·         General Manager Marco Ghigliani the powers associated with operational management of strategic guidelines and overall guidance and control activity of business areas and subsidiaries, management and coordination of the Network Operator (TIMB) and transversal business support activities.

As a result of the new powers granted and the Independent Director status change, Severino Salvemini tendered his resignations from his position as member of Internal Audit and Remuneration Committees. The Board of Director therefore appointed Sergio Ristuccia as member of Internal Audit and Corporate Governance Committee, and Lorenzo Gorgoni as member of the Remuneration Committee.

Finally, the Board of Directors acknowledged the resignations of Directors Alessandro Ovi and Mario Zanone Poma, thanking them for the significant contribution given as Board members.

Milan, 28 June 2012