Meeting of the new Board of Directors of Telecom Italia: Pasquale Pistorio nominated Chairman

04/17/2007 - 09:15 PM

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Meeting of the new Board of Directors of Telecom Italia: Pasquale Pistorio nominated Chairman

Milan, 17 April 2007 - Following the shareholders’ meeting held in Rozzano yesterday, the Board of Directors of Telecom Italia met today for the first time and nominated Mr. Pasquale Pistorio as Chairman and confirmed Mr. Carlo Buora as Executive Deputy Chairman and Mr. Riccardo Ruggiero as Chief Executive Officer. Subsequently, the Board of Directors conferred the following responsibilities:

The Chairman, as well as the Company’s legal representation was given:

  • The responsibility of overseeing the process of examination and definition of the strategic guidelines for the Company and the Group, with the assistance of the Executive Deputy Chairman and the Chief Executive Officer,
  • The responsibility of proposing the strategic guidelines, so defined, to the Board of Directors, as well as
  • The responsibility of overseeing the development of the industrial plans and related implementation processes.

The Chairman was also given organizational responsibility relative to the coordination of the Functions of Group General Counsel and Corporate and Legal Affairs, Public Affairs and Strategy.

The Executive Deputy Chairman was given – as well as legal representation of the Company and all the powers, exercisable with a single signature, necessary for the implementation of the actions pertaining to the company’s activities in its various forms, none excluded – the responsibility relative to overall Group governance, including the development - in coordination with the Chairman – of the strategic guidelines, the coordination of the activities of the Chief Executive Officer as well as the definition, in agreement with the Chief Executive Officer, of the industrial plans for the implementation of the strategic guidelines for the Company and the Group approved by the Board of Directors.

The Executive Deputy Chairman, who has responsibility for internal control, also has organizational responsibility relative to:

  • The coordination of the Olivetti Business Unit and the Media Business Unit;
  • The coordination of the Functions of Group Finance Administration and Control, Human Resources, Organization and Security, Domestic Legal Affairs and Judicial Authority Services, International Legal Affairs, Purchasing, External Relations, International Affairs and Investor Relations, with responsibility to guarantee the of activities of guidance and control connected with the business as well as overall governance of the cross-over themes of the business itself;
  • The coordination of Telecom Italia Audit and Compliance Services and Telecom Italia Latam.

The Chief Executive Officer – as well as the legal representation of the Company and all the powers, exercisable with a single signature, necessary to implement the actions pertaining to the company’s activities in their various forms, none excluded – has responsibility for the coordination of operations, with responsibility to guarantee the management and development of the fixed-line and mobile telecommunications and internet services businesses.

The Chief Executive Officer, in charge of the Company’s secondary headquarters, in Rome, Corso d’Italia 41, also has organizational responsibility relative to:

  • Coordination of the Domestic Fixed Services, Domestic Mobile Services, Top Clients & ICT Services, Technology divisions;
  • Coordination of Quality and Field Services Management, National Wholesale Services, International Wholesale and Broadband Services;
  • Coordination of the Business Development and Regulatory Affairs functions;
  • Coordination of Tim Brasil.