TIM: MEETING OF THE BOARD OF DIRECTORS

06/01/2017 - 06:25 PM

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  • Arnaud Roy de Puyfontaine appointed Executive Chairman and Giuseppe Recchi Deputy Chairman

  • Board organisation completed with the establishment of the Committees

  • Revision and voluntary extension of the procedure for performing transactions with related parties

 

The TIM Board of Directors, which met today, has renewed the governance structure and completed its internal organisation.

Having acknowledged the clearance issued by the European Commission on 30 May 2017 for the Vivendi-TIM concentration, the Board of Directors has appointed by majority Arnaud Roy de Puyfontaine as Executive Chairman and Giuseppe Recchi as Deputy Chairman; Flavio Cattaneo remains the Company’s Chief Executive Officer.

The current responsibilities and powers assigned to the Executive Chairman have all been confirmed (as described in the press release issued on 5 May 2017) with the exception of supervision of security matters and the company TI Sparkle. The Deputy Chairman has been assigned deputy functions.

The Board of Directors has also established internal Committees with the tasks and responsibilities set out in the Company’s Corporate Governance Principles (available for consultation on the website www.telecomitalia.com).

The composition has been defined as follows:

  • Strategy Committee – Chair of the Board of Directors, Chief Executive Officer, Directors Franco Bernabè, Dario Frigerio and Giuseppe Recchi;
  • Control and Risk Committee – Directors Lucia Calvosa, Francesca Cornelli, Frédéric Crépin, Félicité Herzog, Marella Moretti;
  • Nomination and Remuneration Committee – Directors Ferruccio Borsani, Frédéric Crépin, Anna Jones,  Hervé Philippe and Danilo Vivarelli.

Moreover, the Board of Directors has appointed Director Franco Bernabè as Lead Independent Director for the financial year 2017.

Finally, the Board of Directors has reviewed and voluntarily extended, following the favourable opinion of all the independent Directors, the scope of application of the current Procedure for performing transactions with related parties, substituting the clause with which on 3 May 2017 it proceeded with a first extension and deciding to fully equate the reference shareholder Vivendi to a parent company for the purposes of identifying the scope of the related parties of TIM. The new version of the document will be published on the website  www.telecomitalia.com.

 

Milan, 1 June 2017