08 September 2017
| Natalie Bannerman
Telecom Italia (TIM) is searching for a new permanent CEO within a time frame of just a few weeks.
According to Il Messaggero, the Italian daily
newspaper, the company has hired headhunting company Egon
Zehnder to find suitable candidates as quickly as possible.
Giuseppe Recchi, deputy chairman, is taking the lead as
favourite to assume the role. Amos Genish, the general manager
of operations at TIM, and Paolo Dal Pino, head of Prometeon, a
tyre company, are also said to be in the running.
In July, Arnaud de Puyfontaine the CEO of Vivendi,
TIM’s biggest shareholder, was named as interim
CEO for the companyafter the resignation of Flavio Cattaneo, who held the role for 16
months. It is rumoured that Cattaneo left because he
didn’t want to work alongside Genish, whom Vivendi
wanted to put in as managing director.
The two companies have been the source of a lot of media
attention due to the amount of control Vivendi has in TIM's
business operations as the biggest shareholder. The French
media group has denied these claims, saying: "it considers that
it does not exercise any de facto control of Telecom
Only last month Reuters reported
that lawyers for TIM have advised the company that Vivendi
influence does not breach any government competition
regulations and that the firm "has sent the opinion to the
Italian government, which is looking into whether Vivendi
failed to meet an obligation to notify it of its effective
control of a firm considered a strategic national asset". In a
similar fashion, Vivendi has also sought the advice of lawyers
and contacted the Italian government denying its suspected
'influence’ over TIM, for fear of the government
taking further action.
The publication also stated that should a replacement not be
found by the end of the month, it’s likely that
the position will be handed to Genish, although TIM
hasn’t given an official comment.
Paolo Dal Pino,
Arnaud de Puyfontaine