Telecom Italia denied media speculation CEO Amos Genish (pictured) was set to leave the role after only four months to return to Brazil.
Newspaper Il Sole 24 Ore reported the executive could be heading for the exit, while Finanza Report floated troubled Brazilian operator Oi as his potential destination. Prior to joining Vivendi – Telecom Italia’s largest shareholder – Genish was CEO of Telefonica Brazil.
In a statement, Genish said: “I am 100 per cent committed to TIM’s relaunch and to the fine tuning of the 2018-20 strategic plan, which is a long term project for me both personally and professionally.”
Company chairman Arnaud De Puyfontaine added: “On behalf of [the] TIM Board and as CEO of TIM’s main shareholder I confirm my complete trust to Amos Genish with whom we share strategy and vision. We are pleased with the progress until now and [are] confident that Amos will carry on TIM’s relaunch with his usual passion.”
The operator is in the process of changing its focus to incorporate content assets and assessing the viability of spinning off its fixed business following pressure from Italian authorities.
Genish was named Telecom Italia CEO in late September 2017, two months after the departure of Flavio Catteneo who left the post after 18 months amid reported disagreements with Vivendi. Catteneo’s predecessor Marco Patuano departed in March 2016 in similar circumstances.
Genish, however, took the role as an existing Vivendi employee with close ties to its management.
In the last two years the operator paid €31 million in severance payments to former CEOs.