Telecom Italia’s Bernabe Quits After Losing Investor Support
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Telecom Italia SpA Chief Executive Officer Franco Bernabe resigned after clashing with top shareholders over his attempt to boost capital, ending a near six-year tenure leading Italy’s biggest phone company.
Bernabe, 65, stepped down during a board meeting in Milan today, Telecom Italia said in a statement. Chief Operating Officer Marco Patuano was given executive powers temporarily, while Deputy Chairman Aldo Minucci will run the board until a chairman has been designated, according to a separate statement.