Telecom Italia chairman Fulvio Conti (pictured) was rumoured to be on the verge of quitting after less than 18 months at the helm of the company’s board, Reuters reported.
The news website said the move could be announced at a meeting of the operator’s board later this month. It opens the door for the company to appoint its third chairman in three years, during which time it has also had three different CEOs.
Conti took over in May 2018 from Arnaud de Puyfontaine, who had held the role for less than a year before he quit during a bitter battle between shareholders for control of the operator’s board.
The latest occupant of the hot seat was installed as part of a shake-up instigated by activist shareholder Elliott Management.
During his tenure Conti has found himself at loggerheads with major shareholder Vivendi, which had controled the company’s executive team prior to the current chair’s appointment.
At the turn of the year, Vivendi had demanded the removal of Conti alongside several other executives, following scathing criticism of how the company was being run.Subscribe to our daily newsletter Back