Further upheaval at the Italian incumbent as the CEO becomes a victim of the boardroom battle between Vivendi and Elliott.
What a mess. TIM (Telecom Italia), beset by challenging financials as well as boardroom battles between Vivendi and hedge fund Elliott Management, has axed its CEO Amos Genish.
The decision was taken in a dramatic dawn boardroom meeting Tuesday. In an official mid-morning announcement, the operator stated that, by a majority vote, the Telecom Italia (TIM) board had decided “to revoke with immediate effect all powers conferred to Director Amos Genish,” and handed his responsibilities to chairman Fulvio Conti.