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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA (TIT)
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Telecom Italia : Appoints Amos Genish as New CEO

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09/28/2017 | 08:01pm CET
   By Pietro Lombardi 
 

Telecom Italia SpA (>> Telecom Italia) has named Amos Genish as chief executive officer, the company said Thursday, a widely expected move after he was made general manager for operations in July.

Prior to joining Telecom Italia, Mr. Genish had been appointed as chief convergence officer at Vivendi SA (>> Vivendi), leading the French media company's efforts to expand its content distribution across platforms. Vivendi has a stake of about 24% in Telecom Italia.

Mr. Genish's appointment as CEO fills a post that has been empty since July, when Telecom Italia's then-CEO, Flavio Cattaneo, stepped down after only 16 months in the job amid growing tensions with its French shareholder. The resignation came about a month after Arnaud de Puyfontaine, Vivendi's chief executive, became Telecom Italia's executive chairman.

Telecom Italia "must have a constructive collaboration with the institutions and regulators," said Mr. de Puyfontaine, commenting the appointment.

Executive Deputy Chairman Giuseppe Recchi will have deputy functions and will oversee the group's activities and assets "relevant for security and national defense purposes," the company said.

Vivendi is fighting a regulatory battle in Italy over Telecom Italia. Earlier this month, Vivendi said it would appeal a decision by Italy's securities market regulator which deemed that the French media conglomerate has de facto control over Telecom Italia. Telecom Italia has also said it would challenge the watchdog's decision.

The Italian government has also been investigating whether Vivendi has de facto control of Telecom Italia, a sign of its concern over a strategic national asset falling into foreign ownership.

Write to Pietro Lombardi at [email protected]

Stocks mentioned in the article : Telecom Italia, Vivendi
Stocks mentioned in the article
ChangeLast1st jan.
VIVENDI -0.29% 20.9 Real-time Quote.-6.78%
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Financials (€)
Sales 2017 19 708 M
EBIT 2017 4 051 M
Net income 2017 1 444 M
Debt 2017 26 437 M
Yield 2017 0,40%
P/E ratio 2017 10,74
P/E ratio 2018 9,57
EV / Sales 2017 2,08x
EV / Sales 2018 2,04x
Capitalization 14 644 M
Chart TELECOM ITALIA
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Telecom Italia Technical Analysis Chart | TIT | IT0003497168 | 4-Traders
Technical analysis trends TELECOM ITALIA
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 0,97 €
Spread / Average Target 35%
EPS Revisions
Managers
NameTitle
Amos Genish Chief Executive Officer & Director
Arnaud Nicolas de Puyfontaine Executive Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Lucia Calvosa Independent Director
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DEUTSCHE TELEKOM-9.46%75 923
TELEFONICA-1.28%48 982
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