TIM: BOARD OF DIRECTORS EXPANDS MEMBERSHIP OF INTERNAL COMMITTEES AND ACKNOWLEDGES CLARIFICATIONS ON COMMENTS ABOUT THE BOARD MADE BY THE CEO

06/25/2018 - 08:22 PM

- + Text size
Print

TIM’s Board of Directors has met today and expanded the membership of its Internal Committees, increasing the number of members from 4 to 5 by appointing

 

  • Director Valensise to the Control and Risk Committee (which therefore now consists of Directors Giannotti – Chairwoman, Gubitosi, Ferrari, Moretti and Valensise);
  • Director Moretti to the Related Parties Committee (which therefore now consists of Directors Morselli – Chairwoman, Capaldo, Cappello, Moretti and Roscini);
  • Director Capaldo to the Nomination and Remuneration Committee (which therefore now consists of Directors Altavilla – Chairman, Bonomo, Capaldo, Sabelli and Valensise).
     

The Board of Directors has also launched a review of corporate governance documents, adopting a new (significantly updated) version of both the procedure for transactions with related parties and the regulation of the specific Committee which was established on 16 May this year to oversee such transactions. The review of the internal regulations on transactions with related parties has provided an opportunity to ascertain that the respective scope was up-to-date, given that the conditions for defining the relationship between Vivendi and TIM as one of de facto control no longer exist.

 

The new edition of the procedure (which will come into force from the second half of the year) and the Related Parties Committee regulations are being published on the Company's website.

 

The Board of Directors discussed the comments openly made by the CEO about some Board members, acknowledging his clarifications on the matter and his regret for having made inappropriate comments, subsequently amplified by the media.  As a result of the discussion, the Board confirms that its members share a common vision and objectives for TIM, and continue to support the management team.

 

Rome, 25June 2018