Telecom Italia set to appoint a former director of Bank of Italy

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Telecom Italia set to appoint a former director of Bank of Italy

The Italian telecommunication titan, Telecom Italia, shortly dubbed as TIM SpA, headquartered in Milan and Rome, with a net revenue of €18.94 billion, had been drawing up a plan to place a former director of the Bank of Italy, Salvatore Rossi, as its President in a near-term outlook, a source familiar with the subject-matter had unveiled on Friday, the 18th of October 2019.

In point of fact, as the nominating committee of Italian telco giant with an annual revenue of €1.15 billion last year, had already approved an entrance of Salvatore Rossi into its operators’ board of directors, TIM SpA seemed to have cemented the first phase to appoint Salvatore Rossi as the group’s President.

Aside from that, another source with knowledge regarding the subject-matter had been quoted saying on Sunday, the 20th of October 2019, on condition of anonymity as the source was not authorized to speak over the issue on public, that, TIM SpA had called on an emergency meet of its board of directors as early as by next Monday (October 21st) to discuss about the potential successors of the telco behemoth’s former President Fulvio Conti, 70, who had retired from the company’s board of directors last month.

Besides, until May this year, Salvatore Rossi, widely contemplated as a dynamic turbocharger to revive growth momentum, had been the director general of Bank of Italy alongside the Chairman of an entity engaged in supervising the insurance sector in Italy.