Telecom Italia's CEO has been ousted

Telecom Italia's (TIT.MI) board has revoked all powers from Chief Executive Officer Amos Genish with immediate effect, the company said Tuesday.

The move is the culmination of a monthslong tug of war between main shareholders Vivendi SA (VIV.FR) and Elliott Management Corp.

The president of the board will take over in the interim, Telecom said, and a board meeting has been called for Nov. 18 to choose a new CEO.

The board at Telecom is controlled by Elliott. Mr. Genish was appointed to his role by Vivendi.

Source link