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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia    TIT   IT0003497168

TELECOM ITALIA (TIT)
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Telecom Italia : Appoints Amos Genish as New CEO

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09/28/2017 | 08:01pm CEST
   By Pietro Lombardi 
 

Telecom Italia SpA (>> Telecom Italia) has named Amos Genish as chief executive officer, the company said Thursday, a widely expected move after he was made general manager for operations in July.

Prior to joining Telecom Italia, Mr. Genish had been appointed as chief convergence officer at Vivendi SA (>> Vivendi), leading the French media company's efforts to expand its content distribution across platforms. Vivendi has a stake of about 24% in Telecom Italia.

Mr. Genish's appointment as CEO fills a post that has been empty since July, when Telecom Italia's then-CEO, Flavio Cattaneo, stepped down after only 16 months in the job amid growing tensions with its French shareholder. The resignation came about a month after Arnaud de Puyfontaine, Vivendi's chief executive, became Telecom Italia's executive chairman.

Telecom Italia "must have a constructive collaboration with the institutions and regulators," said Mr. de Puyfontaine, commenting the appointment.

Executive Deputy Chairman Giuseppe Recchi will have deputy functions and will oversee the group's activities and assets "relevant for security and national defense purposes," the company said.

Vivendi is fighting a regulatory battle in Italy over Telecom Italia. Earlier this month, Vivendi said it would appeal a decision by Italy's securities market regulator which deemed that the French media conglomerate has de facto control over Telecom Italia. Telecom Italia has also said it would challenge the watchdog's decision.

The Italian government has also been investigating whether Vivendi has de facto control of Telecom Italia, a sign of its concern over a strategic national asset falling into foreign ownership.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

Stocks mentioned in the article : Telecom Italia, Vivendi
Stocks mentioned in the article
ChangeLast1st jan.
TELECOM ITALIA 0.00% 0.5686 End-of-day quote.-21.08%
VIVENDI 0.96% 22.06 Real-time Quote.-1.61%
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Financials (€)
Sales 2018 19 243 M
EBIT 2018 3 874 M
Net income 2018 1 502 M
Debt 2018 25 538 M
Yield 2018 1,16%
P/E ratio 2018 8,31
P/E ratio 2019 7,72
EV / Sales 2018 1,94x
EV / Sales 2019 1,89x
Capitalization 11 699 M
Chart TELECOM ITALIA
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Technical analysis trends TELECOM ITALIA
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 0,84 €
Spread / Average Target 48%
EPS Revisions
Managers
NameTitle
Amos Genish Chief Executive Officer & Director
Fulvio Conti Chairman
Piergiorgio Peluso CFO, Head-Administration, Finance & Control
Roberto Mazzilli Head-Information Technology & Security Compliance
Elisabetta Romano Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TELECOM ITALIA-21.08%13 743
VERIZON COMMUNICATIONS1.93%224 860
NIPPON TELEGRAPH AND TELEPHONE CORP-3.43%96 933
DEUTSCHE TELEKOM-6.05%77 414
SAUDI TELECOM COMPANY SJSC--.--%43 731
ORANGE-4.91%43 014