2009-11 PLAN TO BE APPROVED BY THE BOARD ON 2 DECEMBER

09/25/2008 - 09:30 PM

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The Telecom Italia Board of Directors, chaired by Gabriele Galateri di Genola, met today in MIlan.

The Group CEO Franco Bernabè, updated the Directors on the current position of the business focusing on the progress of the industrial plan 2009-2011, which will be presented to the market following the approval by the Board on 2 December.

The CEO outlined how the industrial plan, currently being drafted, will positively impact the ongoing rationalization process, which has already delivered, amongst other benefits, the closing of an agreement with the unions on 19 September for the management of the reduction of 5,000 posts.

The Board of Directors was informed of the recent interest to invest in Telecom Italia’s capital. None of these indications of interest has been solicited by the company, and no concrete proposal has been made.   

Moreover, with regards to Telecom Italia’s network access infrastructure and the commitments proposed to the Communications Authority (AGCOM) following the setting up of Open Access, Franco Bernabè underlined how the proposal, still undergoing public consultation at AGCOM, represents a positive development in regulatory terms.

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Following the resignation of Gaetano Micciché from the Executive Committee, the Board of Directors has nominated Elio Catania in his place (independent). Mr Catania now leaves the Committee for internal control and corporate governance, and is replaced by Roland Berger (independent).  

As a result, the current composition of the Executive Committee is as follows: Gabriele Galateri - Chairman, Franco Bernabè, Roland Berger, Elio Catania, Julio Linares, Aldo Minucci, Gianni Mion, Renato Pagliaro. In addition, Paolo Baratta - Chairman, Roland Berger, Jean Paul Fitoussi and Aldo Minucci, are all members of the Committee for internal control and corporate governance.

The Board of Directors also nominated as Secretary Antonino Cusimano (General Council and head of Corporate and Legal Affairs) in place of Francesco Chiappetta. 

 

Milan, 25 September 2008