A new Tim extraordinary Board convened on November 26 with governance on the agenda
Distrust and concern expressed in a letter addressed to Salvatore Rossi from eleven councilors out of the 15 total of board on the work of CEO from Tim Luigi Gubitosi. According to what it reveals Republic, the president of the telephone company called a new extraordinary Board of Directors of the group for Friday 26th November, after two thirds of the directors have urged “urgently” a new meeting “to discuss governance and the deterioration of company accounts “.
In addition to the 11 directors, also the board of statutory auditorsand he allegedly wrote “a separate letter to the president expressing concern about the progress of the accounts”. The letter to Rossi was signed by all the directors except Rossi himself, Gubitosi, the independent Paola Bonomi and the president of Cdp, Giovanni Gorno Tempini who, writes the newspaper of the Gedi group, “would not disagree with the content but would not have wanted to expose himself before the CDP plan expected for Thursday 25”, the eve of Tim’s Board of Directors.
“At this point Gubitosi seems to be left alone and without the support of the majority of the Board of Directors”, he stresses again Republic, recalling the rating cut by S&P which follows two profit warnings in 4 months, after the investment in football with Dazn did not bear the hoped-for results. The company does not comment.
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