Telecom Italia Plans to Elevate Pietro Labriola to the CEO Job
- Previous chief, Gubitosi, stepped down after KKR takeover bid
- Italy welcomes KKR’s offer but aims to shield strategic assets
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Telecom Italia SpA plans to name General Manager Pietro Labriola as chief executive officer as soon as this month, according to people familiar with the matter, part of a shake-up spurred by KKR & Co. making a preliminary 10.8 billion euro ($12.2 billion) bid for the former phone monopoly.
Labriola could get the top job at a Dec. 17 board meeting, once former CEO Luigi Gubitosi or another board member gives up a seat on the board, said the people, who asked not to be identified because the matter is private. Labriola, who also runs the company’s Brazilian unit Tim SA, would be the fifth Telecom Italia CEO in fewer than six years.