Telecom Italia Is Set to Name Luigi Gubitosi as CEO
- Company directors backed by Elliott agree on his appointment
- Telecom Italia board is due to make a final decision Sunday
Luigi Gubitosi
Photographer: Jacopo Raule/Getty Images
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Telecom Italia SpA is set to name former Merrill Lynch banker Luigi Gubitosi as its new chief executive officer after Amos Genish was ousted this week by allies of an activist shareholder, according to people familiar with the matter.
The company’s 10 board directors who are backed by Elliott Management Corp agreed on Gubitosi during a conference call they held Saturday, the people said, asking not to be named since the discussions are confidential. Gubitosi needs the backing of at least eight out of the 15 directors to clinch the job at the former telecoms monopoly.