Frank Cadoret, one of two remaining board members representing French group Vivendi on Telecom Italia’s board, resigned from the position with no reason given for his departure, Reuters reported.
Cadoret is the former head of the Vivendi-owned pay-TV business Canal +, joined the board in June 2019, replacing Amos Genish who left six months after he vacated the position of CEO at Telecom Italia.
The Vivendi executive joined at a time when there was relative calm at the operator, after a turbulent period in which Vivendi and the company’s other major shareholder, Elliott Management were embroiled in a bitter battle for power.
Vivendi holds a 24 per cent stake and also clashed with Telecom Italia’s chairman Salvatore Rossi over corporate governance issues.
Rossi thanked Cadoret for “his contribution over the years”, in a statement seen by Reuters.
Vivendi has been represented on the board by Cadoret and its CEO Arnaud de Puyfontaine, who retains his position.
Reuters added Telecom Italia could now call a board meeting on 30 November to replace departing board members.
Luca de Meo, the boss of automaker Renault, left as an independent director in September and Vivendi has reportedly put pressure on Telecom Italia to replace him.Subscribe to our daily newsletter Back